Graypoint LLC Acquires 1,844 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Graypoint LLC grew its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 2.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 69,259 shares of the asset manager’s stock after purchasing an additional 1,844 shares during the period. Graypoint LLC owned about 0.09% of PennantPark Floating Rate Capital worth $801,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Crescent Grove Advisors LLC purchased a new stake in PennantPark Floating Rate Capital in the 3rd quarter valued at about $476,000. Van ECK Associates Corp lifted its holdings in PennantPark Floating Rate Capital by 22.5% during the third quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock valued at $20,554,000 after purchasing an additional 330,731 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of PennantPark Floating Rate Capital by 1,057.0% during the 3rd quarter. International Assets Investment Management LLC now owns 41,421 shares of the asset manager’s stock valued at $479,000 after buying an additional 37,841 shares in the last quarter. Calton & Associates Inc. bought a new position in shares of PennantPark Floating Rate Capital in the third quarter worth $119,000. Finally, Sound Income Strategies LLC boosted its stake in PennantPark Floating Rate Capital by 11.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock worth $34,285,000 after purchasing an additional 306,690 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Trading Up 0.8 %

PFLT stock opened at $11.28 on Friday. PennantPark Floating Rate Capital Ltd. has a one year low of $10.28 and a one year high of $12.63. The company has a market capitalization of $828.18 million, a PE ratio of 6.96 and a beta of 1.69. The company’s 50 day moving average price is $11.49 and its two-hundred day moving average price is $11.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.22 and a current ratio of 0.22.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). PennantPark Floating Rate Capital had a net margin of 59.16% and a return on equity of 10.99%. The company had revenue of $48.51 million for the quarter, compared to the consensus estimate of $47.63 million. During the same period last year, the business posted $0.36 earnings per share. As a group, analysts predict that PennantPark Floating Rate Capital Ltd. will post 1.28 earnings per share for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.1025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.23 dividend on an annualized basis and a yield of 10.90%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 75.93%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Maxim Group upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, August 12th. JMP Securities dropped their target price on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating for the company in a research report on Tuesday, July 30th. Finally, StockNews.com lowered shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

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.