PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Declares $0.10 Monthly Dividend

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced a monthly dividend on Thursday, April 2nd. Stockholders of record on Wednesday, April 15th will be paid a dividend of 0.1025 per share on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 14.7%. The ex-dividend date of this dividend is Wednesday, April 15th.

PennantPark Floating Rate Capital has increased its dividend payment by an average of 0.0%per year over the last three years.

PennantPark Floating Rate Capital Stock Down 0.9%

Shares of NYSE PFLT traded down $0.08 during mid-day trading on Monday, reaching $8.35. The company had a trading volume of 569,070 shares, compared to its average volume of 1,147,844. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.92. The firm has a 50 day simple moving average of $8.44 and a two-hundred day simple moving average of $8.92. The stock has a market cap of $827.99 million, a P/E ratio of 24.55 and a beta of 0.75. PennantPark Floating Rate Capital has a 52-week low of $7.68 and a 52-week high of $10.88.

PennantPark Floating Rate Capital (NYSE:PFLT) last posted its earnings results on Monday, February 9th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $12.72 million during the quarter. PennantPark Floating Rate Capital had a net margin of 13.03% and a return on equity of 9.72%.

Insider Buying and Selling at PennantPark Floating Rate Capital

In other PennantPark Floating Rate Capital news, Director Jose A. Briones acquired 5,895 shares of the stock in a transaction on Thursday, February 19th. The shares were bought at an average cost of $8.48 per share, with a total value of $49,989.60. Following the transaction, the director owned 342,313 shares of the company’s stock, valued at approximately $2,902,814.24. This trade represents a 1.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Richard T. Allorto, Jr. acquired 15,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were acquired at an average cost of $8.15 per share, for a total transaction of $122,250.00. Following the completion of the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at $203,750. The trade was a 150.00% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PFLT. Marshall Wace LLP grew its position in PennantPark Floating Rate Capital by 42.9% during the 3rd quarter. Marshall Wace LLP now owns 2,057,399 shares of the company’s stock worth $18,290,000 after purchasing an additional 617,657 shares during the last quarter. Truffle Hound Capital LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter worth $5,562,000. Millennium Management LLC lifted its stake in shares of PennantPark Floating Rate Capital by 85.0% in the 1st quarter. Millennium Management LLC now owns 1,196,752 shares of the company’s stock worth $13,392,000 after acquiring an additional 550,011 shares during the period. Sound Income Strategies LLC lifted its stake in shares of PennantPark Floating Rate Capital by 12.4% in the 4th quarter. Sound Income Strategies LLC now owns 4,643,958 shares of the company’s stock worth $44,257,000 after acquiring an additional 512,528 shares during the period. Finally, Altshuler Shaham Ltd lifted its stake in shares of PennantPark Floating Rate Capital by 44.1% in the 4th quarter. Altshuler Shaham Ltd now owns 1,320,156 shares of the company’s stock worth $12,238,000 after acquiring an additional 404,117 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.