PennantPark Floating Rate Capital Ltd. (PFLT) To Go Ex-Dividend on June 16th

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) declared a monthly dividend on Wednesday, June 4th, Wall Street Journal reports. Stockholders of record on Monday, June 16th will be given a dividend of 0.1025 per share by the asset manager on Tuesday, July 1st. This represents a $1.23 annualized dividend and a dividend yield of 11.79%. The ex-dividend date of this dividend is Monday, June 16th.

PennantPark Floating Rate Capital Trading Down 0.4%

Shares of PennantPark Floating Rate Capital stock opened at $10.44 on Friday. The firm’s 50 day simple moving average is $10.05 and its two-hundred day simple moving average is $10.70. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 7.45 and a beta of 0.96. PennantPark Floating Rate Capital has a 12-month low of $8.82 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.

Insider Transactions at PennantPark Floating Rate Capital

In other PennantPark Floating Rate Capital news, Director Jose A. Briones acquired 9,840 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was bought at an average price of $10.15 per share, for a total transaction of $99,876.00. Following the acquisition, the director now owns 329,438 shares in the company, valued at approximately $3,343,795.70. The trade was a 3.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PennantPark Floating Rate Capital stock. Millennium Management LLC increased its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 85.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,196,752 shares of the asset manager’s stock after buying an additional 550,011 shares during the quarter. Millennium Management LLC owned about 1.21% of PennantPark Floating Rate Capital worth $13,392,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PFLT. Truist Financial cut their price objective on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Wall Street Zen lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, May 13th. Maxim Group set a $11.50 price target on shares of PennantPark Floating Rate Capital and gave the stock a “buy” rating in a research report on Wednesday, May 14th. UBS Group decreased their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Finally, LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.08.

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.