Wedbush Securities Inc. Acquires 6,382 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Wedbush Securities Inc. grew its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,492 shares of the asset manager’s stock after buying an additional 6,382 shares during the period. Wedbush Securities Inc. owned approximately 0.15% of PennantPark Floating Rate Capital worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PFLT. Wilmington Savings Fund Society FSB bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter worth $39,000. Investment Partners LTD. bought a new stake in PennantPark Floating Rate Capital during the fourth quarter valued at about $109,000. Sigma Planning Corp acquired a new stake in shares of PennantPark Floating Rate Capital in the fourth quarter valued at about $119,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of PennantPark Floating Rate Capital in the fourth quarter worth about $131,000. Finally, Blue Trust Inc. acquired a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth about $136,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PFLT shares. StockNews.com raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Thursday. Raymond James began coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock.

PennantPark Floating Rate Capital Stock Performance

NASDAQ:PFLT opened at $10.04 on Monday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $11.14 and a 200 day moving average price of $11.19. The firm has a market capitalization of $882.64 million, a PE ratio of 7.17 and a beta of 1.30. PennantPark Floating Rate Capital Ltd. has a 12-month low of $9.80 and a 12-month high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 annualized dividend and a dividend yield of 12.26%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

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.