PennantPark Floating Rate Capital Ltd. Plans Monthly Dividend of $0.10 (NASDAQ:PFLT)

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Rating) declared a monthly dividend on Thursday, August 4th, Wall Street Journal reports. Shareholders of record on Thursday, August 18th will be given a dividend of 0.095 per share by the asset manager on Thursday, September 1st. This represents a $1.14 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date is Wednesday, August 17th.

PennantPark Floating Rate Capital Stock Performance

NASDAQ PFLT opened at $12.91 on Friday. The stock’s fifty day moving average is $11.90 and its two-hundred day moving average is $12.63. The firm has a market capitalization of $533.83 million, a P/E ratio of 10.64 and a beta of 1.64. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.11 and a current ratio of 0.10. PennantPark Floating Rate Capital has a fifty-two week low of $10.37 and a fifty-two week high of $14.38.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The asset manager reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. PennantPark Floating Rate Capital had a return on equity of 9.24% and a net margin of 20.95%. The business had revenue of $24.64 million for the quarter, compared to analyst estimates of $23.73 million. On average, research analysts anticipate that PennantPark Floating Rate Capital will post 1.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in shares of PennantPark Floating Rate Capital by 12.5% in the 1st quarter. Advisors Asset Management Inc. now owns 234,366 shares of the asset manager’s stock valued at $3,166,000 after purchasing an additional 25,963 shares during the period. JPMorgan Chase & Co. boosted its position in shares of PennantPark Floating Rate Capital by 108.8% in the 1st quarter. JPMorgan Chase & Co. now owns 36,155 shares of the asset manager’s stock valued at $488,000 after purchasing an additional 18,838 shares during the period. Toroso Investments LLC boosted its position in shares of PennantPark Floating Rate Capital by 41.2% in the 1st quarter. Toroso Investments LLC now owns 57,361 shares of the asset manager’s stock valued at $775,000 after purchasing an additional 16,730 shares during the period. Merit Financial Group LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the 1st quarter valued at about $203,000. Finally, BNP Paribas Arbitrage SA acquired a new stake in shares of PennantPark Floating Rate Capital in the 1st quarter valued at about $102,000. Hedge funds and other institutional investors own 18.16% of the company’s stock.

About PennantPark Floating Rate Capital

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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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Dividend History for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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