Roosevelt Investment Group Inc. Takes Position in Pennantpark Floating Rate Capital Ltd (PFLT)

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Roosevelt Investment Group Inc. purchased a new stake in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 92,687 shares of the asset manager’s stock, valued at approximately $1,072,000.

Several other hedge funds have also recently made changes to their positions in PFLT. LGT Capital Partners LTD. boosted its stake in shares of Pennantpark Floating Rate Capital by 32.5% during the fourth quarter. LGT Capital Partners LTD. now owns 1,020,000 shares of the asset manager’s stock valued at $11,801,000 after purchasing an additional 250,000 shares in the last quarter. PFG Advisors acquired a new stake in shares of Pennantpark Floating Rate Capital during the fourth quarter valued at about $1,794,000. Confluence Investment Management LLC boosted its stake in shares of Pennantpark Floating Rate Capital by 56.4% during the fourth quarter. Confluence Investment Management LLC now owns 138,155 shares of the asset manager’s stock valued at $1,598,000 after purchasing an additional 49,843 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Pennantpark Floating Rate Capital by 4.4% during the fourth quarter. Sound Income Strategies LLC now owns 1,089,285 shares of the asset manager’s stock valued at $13,485,000 after purchasing an additional 45,780 shares in the last quarter. Finally, Wambolt & Associates LLC acquired a new stake in shares of Pennantpark Floating Rate Capital during the fourth quarter valued at about $514,000. 34.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PFLT stock opened at $13.17 on Tuesday. Pennantpark Floating Rate Capital Ltd has a 12 month low of $11.05 and a 12 month high of $14.12. The stock has a market cap of $509.46 million, a PE ratio of 12.42 and a beta of 0.72.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, February 6th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.30. Pennantpark Floating Rate Capital had a return on equity of 8.24% and a net margin of 45.40%. The company had revenue of $23.18 million during the quarter, compared to the consensus estimate of $22.06 million. Sell-side analysts anticipate that Pennantpark Floating Rate Capital Ltd will post 1.2 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 14th will be given a dividend of $0.016 per share. The ex-dividend date of this dividend is Wednesday, February 13th. This represents a $0.19 dividend on an annualized basis and a dividend yield of 1.46%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 81.13%.

A number of analysts have recently commented on the company. Zacks Investment Research raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday. BidaskClub lowered Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Finally, ValuEngine raised Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Pennantpark Floating Rate Capital has a consensus rating of “Hold” and an average target price of $14.50.

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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.

Further Reading: Quiet Period

Want to see what other hedge funds are holding PFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT).

Institutional Ownership by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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