Synergy Investment Management LLC Invests $227,000 in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Synergy Investment Management LLC purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,795 shares of the asset manager’s stock, valued at approximately $227,000.

Several other large investors have also bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in PennantPark Floating Rate Capital during the 3rd quarter worth $39,000. Investment Partners LTD. acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth $109,000. Sigma Planning Corp acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth $119,000. Jmac Enterprises LLC bought a new stake in PennantPark Floating Rate Capital in the third quarter valued at about $120,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in PennantPark Floating Rate Capital in the fourth quarter valued at about $131,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Stock Performance

Shares of PennantPark Floating Rate Capital stock opened at $11.30 on Tuesday. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $993.46 million, a PE ratio of 8.07 and a beta of 1.65. The stock’s fifty day simple moving average is $11.10 and its 200 day simple moving average is $11.22.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 10.89%. The ex-dividend date of this dividend was Tuesday, February 18th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

Wall Street Analysts Forecast Growth

PFLT has been the subject of several analyst reports. Raymond James started coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th.

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.