Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Director Samuel L. Katz bought 20,000 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $12.11 per share, with a total value of $242,200.00. Following the purchase, the director now owns 146,900 shares of the company’s stock, valued at $1,778,959. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

NASDAQ PFLT opened at $12.13 on Thursday. Pennantpark Floating Rate Capital Ltd has a one year low of $11.05 and a one year high of $14.12. The company has a market capitalization of $468.75 million, a PE ratio of 11.44 and a beta of 0.72.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, May 8th. The asset manager reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $23.01 million for the quarter, compared to analysts’ expectations of $22.99 million. Pennantpark Floating Rate Capital had a net margin of 17.80% and a return on equity of 8.80%. As a group, sell-side analysts expect that Pennantpark Floating Rate Capital Ltd will post 1.2 EPS for the current year.

The company also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $0.095 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.14 annualized dividend and a yield of 9.40%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 71.70%.

Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Pennantpark Floating Rate Capital by 8.6% in the third quarter. BlackRock Inc. now owns 185,987 shares of the asset manager’s stock worth $2,446,000 after purchasing an additional 14,662 shares during the last quarter. Legal & General Group Plc boosted its holdings in Pennantpark Floating Rate Capital by 2.1% in the third quarter. Legal & General Group Plc now owns 150,628 shares of the asset manager’s stock worth $1,982,000 after purchasing an additional 3,152 shares during the last quarter. LGT Capital Partners LTD. boosted its holdings in Pennantpark Floating Rate Capital by 32.5% in the fourth quarter. LGT Capital Partners LTD. now owns 1,020,000 shares of the asset manager’s stock worth $11,801,000 after purchasing an additional 250,000 shares during the last quarter. Monument Capital Management boosted its holdings in Pennantpark Floating Rate Capital by 7.4% in the fourth quarter. Monument Capital Management now owns 93,796 shares of the asset manager’s stock worth $1,085,000 after purchasing an additional 6,441 shares during the last quarter. Finally, PFG Advisors purchased a new stake in Pennantpark Floating Rate Capital in the fourth quarter worth approximately $1,794,000. 36.48% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have weighed in on PFLT shares. Zacks Investment Research raised shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. BidaskClub lowered shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. Maxim Group reissued a “buy” rating and issued a $14.50 price objective on shares of Pennantpark Floating Rate Capital in a research note on Thursday, February 7th. Keefe, Bruyette & Woods lowered shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $14.00 to $13.00 in a research note on Wednesday, May 8th. Finally, LADENBURG THALM/SH SH lowered shares of Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $14.13.

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Pennantpark Floating Rate Capital Company 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.

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