Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Holdings Increased by Relative Value Partners Group LLC

Relative Value Partners Group LLC boosted its position in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 289,176 shares of the asset manager’s stock after purchasing an additional 2,005 shares during the period. Relative Value Partners Group LLC’s holdings in Pennantpark Floating Rate Capital were worth $3,732,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PFLT. B. Riley Wealth Management Inc. purchased a new stake in shares of Pennantpark Floating Rate Capital during the 4th quarter valued at $2,218,000. PFG Advisors purchased a new stake in shares of Pennantpark Floating Rate Capital during the 4th quarter valued at $1,958,000. West Family Investments Inc. grew its stake in shares of Pennantpark Floating Rate Capital by 42.1% during the 4th quarter. West Family Investments Inc. now owns 378,669 shares of the asset manager’s stock valued at $4,385,000 after buying an additional 112,252 shares during the period. Sound Income Strategies LLC grew its stake in shares of Pennantpark Floating Rate Capital by 8.4% during the 1st quarter. Sound Income Strategies LLC now owns 1,172,567 shares of the asset manager’s stock valued at $15,021,000 after buying an additional 90,537 shares during the period. Finally, LGT Capital Partners LTD. grew its stake in shares of Pennantpark Floating Rate Capital by 7.5% during the 1st quarter. LGT Capital Partners LTD. now owns 1,096,791 shares of the asset manager’s stock valued at $14,050,000 after buying an additional 76,791 shares during the period. 35.22% of the stock is owned by hedge funds and other institutional investors.

In other Pennantpark Floating Rate Capital news, insider Arthur H. Penn bought 7,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $12.10 per share, for a total transaction of $84,700.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Arthur H. Penn bought 9,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Friday, May 10th. The shares were acquired at an average price of $12.15 per share, for a total transaction of $109,350.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 62,000 shares of company stock worth $749,945 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Shares of NASDAQ:PFLT traded down $0.06 during midday trading on Friday, hitting $11.70. 17,141 shares of the company’s stock traded hands, compared to its average volume of 179,475. The firm has a market capitalization of $453.61 million, a price-to-earnings ratio of 11.04 and a beta of 0.78. Pennantpark Floating Rate Capital Ltd has a twelve month low of $11.05 and a twelve month high of $14.12.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its earnings results on Wednesday, May 8th. The asset manager reported $0.30 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $23.01 million for the quarter, compared to analyst estimates of $22.99 million. Pennantpark Floating Rate Capital had a net margin of 17.80% and a return on equity of 8.80%. Equities research analysts forecast that Pennantpark Floating Rate Capital Ltd will post 1.2 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.14 annualized dividend and a dividend yield of 9.74%. Pennantpark Floating Rate Capital’s payout ratio is 107.55%.

Several analysts have recently issued reports on PFLT shares. ValuEngine cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. BidaskClub cut shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. TheStreet cut shares of Pennantpark Floating Rate Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, May 22nd. Finally, LADENBURG THALM/SH SH cut shares of Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $14.13.

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Pennantpark Floating Rate Capital 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.

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Want to see what other hedge funds are holding PFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT).

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

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