Firethorn Wealth Partners LLC Has $110,000 Stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Firethorn Wealth Partners LLC reduced its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 22.4% in the 4th quarter, Holdings Channel reports. The fund owned 10,100 shares of the asset manager’s stock after selling 2,908 shares during the quarter. Firethorn Wealth Partners LLC’s holdings in PennantPark Floating Rate Capital were worth $110,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sound Income Strategies LLC grew its position in shares of PennantPark Floating Rate Capital by 12.0% in the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock valued at $36,288,000 after purchasing an additional 356,781 shares during the period. Graypoint LLC lifted its stake in PennantPark Floating Rate Capital by 2.7% in the fourth quarter. Graypoint LLC now owns 71,156 shares of the asset manager’s stock valued at $778,000 after buying an additional 1,897 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of PennantPark Floating Rate Capital by 72.6% in the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock valued at $2,913,000 after buying an additional 105,855 shares during the period. Tidal Investments LLC raised its holdings in shares of PennantPark Floating Rate Capital by 7.4% during the third quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager’s stock worth $1,169,000 after acquiring an additional 6,966 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in PennantPark Floating Rate Capital in the 3rd quarter valued at $39,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Down 0.1 %

Shares of NASDAQ:PFLT opened at $11.26 on Friday. The stock has a market capitalization of $936.75 million, a PE ratio of 8.87 and a beta of 1.65. The company’s 50-day moving average price is $11.01 and its two-hundred day moving average price is $11.24. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. PennantPark Floating Rate Capital Ltd. has a one year low of $10.28 and a one year high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.23 annualized dividend and a yield of 10.93%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 86.01%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th. Raymond James started coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating on the stock.

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.