Van ECK Associates Corp Buys 187,465 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Van ECK Associates Corp boosted its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,985,730 shares of the asset manager’s stock after acquiring an additional 187,465 shares during the period. Van ECK Associates Corp owned 2.39% of PennantPark Floating Rate Capital worth $21,704,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Calton & Associates Inc. bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $119,000. International Assets Investment Management LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 1,057.0% during the 3rd quarter. International Assets Investment Management LLC now owns 41,421 shares of the asset manager’s stock valued at $479,000 after buying an additional 37,841 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $476,000. Graypoint LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 2.7% during the 3rd quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock valued at $801,000 after buying an additional 1,844 shares in the last quarter. Finally, Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $120,000. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

PFLT opened at $11.18 on Friday. The stock has a 50-day moving average price of $11.03 and a 200-day moving average price of $11.20. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $930.10 million, a PE ratio of 7.81 and a beta of 1.65. PennantPark Floating Rate Capital Ltd. has a 1 year low of $10.28 and a 1 year high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date is Tuesday, February 18th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 86.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PFLT shares. StockNews.com upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Wednesday. Raymond James started coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They issued a “market perform” rating for the company.

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.