GWN Securities Inc. Invests $250,000 in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

GWN Securities Inc. purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 22,226 shares of the asset manager’s stock, valued at approximately $250,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PFLT. Advisors Asset Management Inc. raised its stake in shares of PennantPark Floating Rate Capital by 9.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 281,626 shares of the asset manager’s stock worth $3,258,000 after buying an additional 23,836 shares during the last quarter. Paloma Partners Management Co purchased a new stake in PennantPark Floating Rate Capital during the 3rd quarter worth about $174,000. XTX Topco Ltd purchased a new stake in PennantPark Floating Rate Capital during the 3rd quarter worth about $182,000. Wilmington Savings Fund Society FSB purchased a new stake in PennantPark Floating Rate Capital during the 3rd quarter worth about $39,000. Finally, Tidal Investments LLC increased its position in PennantPark Floating Rate Capital by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager’s stock worth $1,169,000 after purchasing an additional 6,966 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Stock Up 0.6 %

PFLT opened at $11.10 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The stock has a market capitalization of $975.87 million, a price-to-earnings ratio of 7.93 and a beta of 1.67. The business has a 50-day moving average of $11.14 and a two-hundred day moving average of $11.22. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 11.09%. The ex-dividend date is Friday, March 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 87.86%.

Wall Street Analyst Weigh In

A number of analysts recently commented on PFLT shares. Raymond James started coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Friday, March 7th.

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.