MQS Management LLC Invests $185,000 in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

MQS Management LLC bought a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,959 shares of the asset manager’s stock, valued at approximately $185,000. PennantPark Floating Rate Capital accounts for 5.3% of MQS Management LLC’s portfolio, making the stock its 12th largest position.

Other hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC increased its holdings in shares of PennantPark Floating Rate Capital by 12.0% in the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock valued at $36,288,000 after purchasing an additional 356,781 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PennantPark Floating Rate Capital by 72.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock valued at $2,913,000 after purchasing an additional 105,855 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at about $131,000. Blue Trust Inc. purchased a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at about $136,000. Finally, Van ECK Associates Corp increased its holdings in shares of PennantPark Floating Rate Capital by 10.4% in the 4th quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager’s stock valued at $21,704,000 after purchasing an additional 187,465 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PFLT. Raymond James initiated coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating for the company. StockNews.com upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday.

PennantPark Floating Rate Capital Stock Performance

NASDAQ:PFLT opened at $11.15 on Monday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $11.13 and a two-hundred day moving average price of $11.22. PennantPark Floating Rate Capital Ltd. has a twelve month low of $10.28 and a twelve month high of $12.02. The company has a market capitalization of $980.27 million, a P/E ratio of 7.96 and a beta of 1.67.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.1025 per share. The ex-dividend date is Friday, March 14th. This represents a $1.23 annualized dividend and a dividend yield of 11.04%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 87.86%.

About PennantPark Floating Rate Capital

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.