Dynamic Technology Lab Private Ltd Purchases Shares of 12,748 PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Dynamic Technology Lab Private Ltd purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 12,748 shares of the asset manager’s stock, valued at approximately $140,000.

Several other institutional investors and hedge funds have also made changes to their positions in PFLT. Wilmington Savings Fund Society FSB purchased a new stake in PennantPark Floating Rate Capital during the third quarter worth approximately $39,000. Investment Partners LTD. acquired a new stake in PennantPark Floating Rate Capital during the fourth quarter worth approximately $109,000. Sigma Planning Corp purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $131,000. Finally, Blue Trust Inc. purchased a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $136,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating for the company. StockNews.com upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Keefe, Bruyette & Woods reduced their price objective on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a “market perform” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $11.67.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ:PFLT opened at $9.53 on Friday. PennantPark Floating Rate Capital Ltd. has a one year low of $8.82 and a one year high of $12.02. The stock has a market capitalization of $837.78 million, a price-to-earnings ratio of 6.80 and a beta of 1.30. The company has a 50-day simple moving average of $10.91 and a 200-day simple moving average of $11.10. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 12.91%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

About PennantPark Floating Rate Capital

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.