Strategic Financial Concepts LLC Buys Shares of 55,800 PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Strategic Financial Concepts LLC purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 55,800 shares of the asset manager’s stock, valued at approximately $635,000. Strategic Financial Concepts LLC owned 0.09% of PennantPark Floating Rate Capital as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC lifted its position in shares of PennantPark Floating Rate Capital by 6.2% during the first quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager’s stock worth $39,222,000 after acquiring an additional 200,250 shares in the last quarter. Van ECK Associates Corp boosted its stake in PennantPark Floating Rate Capital by 11.8% in the 4th quarter. Van ECK Associates Corp now owns 1,021,521 shares of the asset manager’s stock worth $12,361,000 after purchasing an additional 107,588 shares during the period. Advisors Asset Management Inc. grew its holdings in PennantPark Floating Rate Capital by 7.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 324,900 shares of the asset manager’s stock valued at $3,463,000 after buying an additional 23,893 shares in the last quarter. NewEdge Wealth LLC purchased a new position in PennantPark Floating Rate Capital during the 4th quarter valued at about $3,741,000. Finally, International Assets Investment Management LLC increased its position in shares of PennantPark Floating Rate Capital by 1,110.0% during the fourth quarter. International Assets Investment Management LLC now owns 287,738 shares of the asset manager’s stock valued at $3,482,000 after buying an additional 263,958 shares during the period. Hedge funds and other institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ:PFLT traded down $0.07 during trading on Tuesday, reaching $11.38. The company had a trading volume of 1,112,001 shares, compared to its average volume of 669,019. PennantPark Floating Rate Capital Ltd. has a 12 month low of $9.69 and a 12 month high of $12.63. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $701.35 million, a P/E ratio of 10.16 and a beta of 1.68. The company has a fifty day moving average of $11.31 and a two-hundred day moving average of $11.29.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $37.97 million for the quarter, compared to analysts’ expectations of $35.03 million. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. Equities research analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.29 earnings per share for the current year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Monday, April 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.81%. The ex-dividend date of this dividend is Friday, April 12th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 109.82%.

Analyst Upgrades and Downgrades

Separately, JMP Securities restated a “market outperform” rating and issued a $12.50 price objective on shares of PennantPark Floating Rate Capital in a research report on Tuesday, March 26th.

PennantPark Floating Rate Capital Company 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.