Pennantpark Floating Rate Capital Ltd (PFLT) Stake Increased by OxFORD Asset Management LLP

OxFORD Asset Management LLP raised its position in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 63.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 62,292 shares of the asset manager’s stock after acquiring an additional 24,169 shares during the period. OxFORD Asset Management LLP owned approximately 0.19% of Pennantpark Floating Rate Capital worth $900,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Pennantpark Floating Rate Capital in the 3rd quarter worth $147,000. CIBC World Markets Inc. acquired a new stake in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth $202,000. GSA Capital Partners LLP acquired a new stake in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth $207,000. First Allied Advisory Services Inc. lifted its stake in shares of Pennantpark Floating Rate Capital by 1.6% in the 2nd quarter. First Allied Advisory Services Inc. now owns 19,160 shares of the asset manager’s stock worth $269,000 after acquiring an additional 299 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its stake in shares of Pennantpark Floating Rate Capital by 1.9% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 20,226 shares of the asset manager’s stock valued at $285,000 after purchasing an additional 373 shares during the period. Institutional investors own 25.91% of the company’s stock.

Shares of Pennantpark Floating Rate Capital Ltd (PFLT) opened at $13.88 on Friday. Pennantpark Floating Rate Capital Ltd has a 52 week low of $13.24 and a 52 week high of $14.65. The company has a market cap of $536.03, a PE ratio of 11.57 and a beta of 0.59.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.02). Pennantpark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. The business had revenue of $18.45 million for the quarter, compared to analysts’ expectations of $19.40 million. During the same quarter last year, the business posted $0.31 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. research analysts expect that Pennantpark Floating Rate Capital Ltd will post 1.08 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Tuesday, December 26th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.14 annualized dividend and a yield of 8.21%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is currently 95.00%.

Several analysts recently commented on the stock. BidaskClub upgraded shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Friday. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 5th. ValuEngine upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Maxim Group reiterated a “buy” rating and issued a $14.75 price objective on shares of Pennantpark Floating Rate Capital in a research note on Friday, December 1st. Finally, Keefe, Bruyette & Woods set a $16.00 price objective on shares of Pennantpark Floating Rate Capital and gave the company a “buy” rating in a research note on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Pennantpark Floating Rate Capital presently has a consensus rating of “Buy” and a consensus target price of $15.30.

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About Pennantpark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

Institutional Ownership by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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