International Assets Investment Management LLC trimmed its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Free Report) by 7.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,780 shares of the asset manager’s stock after selling 1,815 shares during the quarter. International Assets Investment Management LLC’s holdings in PennantPark Floating Rate Capital were worth $252,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Sound Income Strategies LLC raised its holdings in PennantPark Floating Rate Capital by 11.1% during the 4th quarter. Sound Income Strategies LLC now owns 2,867,331 shares of the asset manager’s stock worth $31,483,000 after buying an additional 286,593 shares during the period. BlackRock Inc. raised its holdings in PennantPark Floating Rate Capital by 31.1% during the 3rd quarter. BlackRock Inc. now owns 359,692 shares of the asset manager’s stock worth $3,453,000 after buying an additional 85,430 shares during the period. First Republic Investment Management Inc. raised its holdings in PennantPark Floating Rate Capital by 27.5% during the 4th quarter. First Republic Investment Management Inc. now owns 363,811 shares of the asset manager’s stock worth $3,995,000 after buying an additional 78,546 shares during the period. UBS Group AG raised its holdings in PennantPark Floating Rate Capital by 138.0% during the 2nd quarter. UBS Group AG now owns 128,415 shares of the asset manager’s stock worth $1,474,000 after buying an additional 74,460 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in PennantPark Floating Rate Capital by 16.7% during the 4th quarter. Advisors Asset Management Inc. now owns 308,739 shares of the asset manager’s stock worth $3,390,000 after buying an additional 44,239 shares during the period. 20.46% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PFLT has been the topic of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $12.00 target price on shares of PennantPark Floating Rate Capital in a report on Monday, March 13th. UBS Group initiated coverage on PennantPark Floating Rate Capital in a report on Thursday, June 8th. They issued a “neutral” rating and a $11.00 target price on the stock. Finally, StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, June 9th.
PennantPark Floating Rate Capital Trading Up 0.3 %
PennantPark Floating Rate Capital (NASDAQ:PFLT – Free Report) last released its quarterly earnings data on Wednesday, May 10th. The asset manager reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. PennantPark Floating Rate Capital had a positive return on equity of 10.47% and a negative net margin of 10.46%. The firm had revenue of $34.56 million for the quarter, compared to the consensus estimate of $32.18 million. On average, research analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.34 EPS for the current fiscal year.
PennantPark Floating Rate Capital Increases Dividend
The business also recently announced a monthly dividend, which was paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th were given a dividend of $0.1025 per share. The ex-dividend date was Wednesday, June 14th. This represents a $1.23 dividend on an annualized basis and a yield of 11.52%. This is a boost from PennantPark Floating Rate Capital’s previous monthly dividend of $0.10. PennantPark Floating Rate Capital’s dividend payout ratio is presently -351.43%.
PennantPark Floating Rate Capital Profile
PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.
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