Insider Buying: Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Insider Purchases $92,560.00 in Stock

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Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) insider Arthur H. Penn acquired 8,000 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $11.57 per share, with a total value of $92,560.00. The transaction was disclosed in a filing with the SEC, which is available at this link.

PFLT opened at $11.47 on Friday. The firm’s 50-day simple moving average is $11.62 and its 200-day simple moving average is $12.37. Pennantpark Floating Rate Capital Ltd has a twelve month low of $11.05 and a twelve month high of $13.77. The firm has a market cap of $454.41 million, a price-to-earnings ratio of 10.82 and a beta of 0.73.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Wednesday, August 7th. The asset manager reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.01). Pennantpark Floating Rate Capital had a return on equity of 8.83% and a net margin of 16.65%. The firm had revenue of $22.88 million during the quarter, compared to the consensus estimate of $22.90 million. As a group, sell-side analysts predict that Pennantpark Floating Rate Capital Ltd will post 1.19 EPS for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be paid a $0.095 dividend. This represents a $1.14 annualized dividend and a dividend yield of 9.94%. The ex-dividend date of this dividend is Friday, August 16th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 107.55%.

A number of brokerages have recently issued reports on PFLT. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. Keefe, Bruyette & Woods cut shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $14.00 to $13.00 in a research note on Wednesday, May 8th. ValuEngine cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. LADENBURG THALM/SH SH cut shares of Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a research note on Monday, May 13th. Finally, TheStreet cut shares of Pennantpark Floating Rate Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Pennantpark Floating Rate Capital currently has an average rating of “Hold” and a consensus target price of $13.50.

Several hedge funds and other institutional investors have recently modified their holdings of PFLT. Russell Investments Group Ltd. bought a new position in shares of Pennantpark Floating Rate Capital in the 2nd quarter valued at about $71,000. Psagot Investment House Ltd. bought a new position in shares of Pennantpark Floating Rate Capital in the 1st quarter valued at about $82,000. NEXT Financial Group Inc boosted its stake in shares of Pennantpark Floating Rate Capital by 13.3% in the 2nd quarter. NEXT Financial Group Inc now owns 8,681 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 1,018 shares during the last quarter. Citadel Advisors LLC bought a new position in shares of Pennantpark Floating Rate Capital in the 2nd quarter valued at about $133,000. Finally, First Allied Advisory Services Inc. bought a new position in shares of Pennantpark Floating Rate Capital in the 1st quarter valued at about $149,000. 36.20% of the stock is currently owned by institutional investors.

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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Insider Buying and Selling by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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