PennantPark Floating Rate Capital (NASDAQ:PFLT) Sees Large Volume Increase

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) saw an uptick in trading volume on Monday . 2,413,409 shares traded hands during mid-day trading, an increase of 286% from the previous session’s volume of 625,349 shares.The stock last traded at $11.45 and had previously closed at $11.49.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market outperform” rating and set a $12.50 price objective on shares of PennantPark Floating Rate Capital in a research report on Tuesday, March 26th.

PennantPark Floating Rate Capital Stock Down 0.2 %

The firm has a market cap of $706.90 million, a PE ratio of 10.18 and a beta of 1.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.19 and a current ratio of 0.19. The firm’s 50-day moving average price is $11.31 and its two-hundred day moving average price is $11.29.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.02. The business had revenue of $37.97 million during the quarter, compared to the consensus estimate of $35.03 million. PennantPark Floating Rate Capital had a net margin of 43.40% and a return on equity of 11.83%. As a group, equities research analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.29 EPS for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be paid a $0.1025 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.23 annualized dividend and a yield of 10.72%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 109.82%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Institutional investors have recently bought and sold shares of the company. Graypoint LLC grew its stake in shares of PennantPark Floating Rate Capital by 2.0% during the 4th quarter. Graypoint LLC now owns 63,938 shares of the asset manager’s stock worth $774,000 after purchasing an additional 1,238 shares during the period. Sigma Planning Corp grew its stake in shares of PennantPark Floating Rate Capital by 8.3% during the 3rd quarter. Sigma Planning Corp now owns 18,616 shares of the asset manager’s stock worth $198,000 after purchasing an additional 1,429 shares during the period. Global Retirement Partners LLC grew its stake in shares of PennantPark Floating Rate Capital by 107.8% during the 1st quarter. Global Retirement Partners LLC now owns 3,259 shares of the asset manager’s stock worth $37,000 after purchasing an additional 1,691 shares during the period. Cape Investment Advisory Inc. acquired a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth $29,000. Finally, Golden Green Inc. grew its stake in shares of PennantPark Floating Rate Capital by 1.7% during the 3rd quarter. Golden Green Inc. now owns 153,476 shares of the asset manager’s stock worth $1,636,000 after purchasing an additional 2,634 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

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.