PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on August 17th

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Rating) declared a monthly dividend on Thursday, August 4th, Wall Street Journal reports. Stockholders of record on Thursday, August 18th will be paid 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 dividend yield of 8.83%. The ex-dividend date of this dividend is Wednesday, August 17th.

PennantPark Floating Rate Capital Stock Performance

NASDAQ:PFLT opened at $12.91 on Friday. PennantPark Floating Rate Capital has a 12-month low of $10.37 and a 12-month high of $14.38. The company has a quick ratio of 0.11, a current ratio of 0.10 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $533.83 million, a PE ratio of 10.64 and a beta of 1.64. The firm has a 50-day moving average price of $11.90 and a 200 day moving average price of $12.63.

PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The asset manager reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The firm had revenue of $24.64 million for the quarter, compared to analysts’ expectations of $23.73 million. PennantPark Floating Rate Capital had a net margin of 20.95% and a return on equity of 9.24%. Research analysts anticipate that PennantPark Floating Rate Capital will post 1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Hedge funds have recently bought and sold shares of the stock. Toroso Investments LLC increased its stake in shares of PennantPark Floating Rate Capital by 41.2% in the first quarter. Toroso Investments LLC now owns 57,361 shares of the asset manager’s stock worth $775,000 after buying an additional 16,730 shares during the period. BNP Paribas Arbitrage SA purchased a new position in PennantPark Floating Rate Capital during the 1st quarter valued at $102,000. Advisors Asset Management Inc. increased its position in PennantPark Floating Rate Capital by 12.5% during 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. Royal Bank of Canada increased its position in PennantPark Floating Rate Capital by 11.0% during the 1st quarter. Royal Bank of Canada now owns 27,452 shares of the asset manager’s stock valued at $371,000 after purchasing an additional 2,730 shares during the period. Finally, UBS Group AG increased its position in PennantPark Floating Rate Capital by 12.3% during the 1st quarter. UBS Group AG now owns 53,955 shares of the asset manager’s stock valued at $729,000 after purchasing an additional 5,930 shares during the period. 18.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th.

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.