Advisors Asset Management Inc. grew its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 12.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 348,288 shares of the asset manager’s stock after purchasing an additional 37,231 shares during the period. Advisors Asset Management Inc. owned approximately 1.07% of PennantPark Floating Rate Capital worth $5,043,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Morgan Stanley grew its position in PennantPark Floating Rate Capital by 1.4% in the first quarter. Morgan Stanley now owns 327,432 shares of the asset manager’s stock worth $4,564,000 after acquiring an additional 4,617 shares in the last quarter. Goldman Sachs Group Inc. grew its position in PennantPark Floating Rate Capital by 291.9% in the first quarter. Goldman Sachs Group Inc. now owns 39,485 shares of the asset manager’s stock worth $550,000 after acquiring an additional 29,410 shares in the last quarter. Bank of Montreal Can grew its position in PennantPark Floating Rate Capital by 2,900.0% in the second quarter. Bank of Montreal Can now owns 30,000 shares of the asset manager’s stock worth $423,000 after acquiring an additional 29,000 shares in the last quarter. LGT Capital Partners LTD. grew its position in PennantPark Floating Rate Capital by 3.8% in the second quarter. LGT Capital Partners LTD. now owns 602,271 shares of the asset manager’s stock worth $8,498,000 after acquiring an additional 22,271 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in PennantPark Floating Rate Capital by 1.4% in the second quarter. Janney Montgomery Scott LLC now owns 422,596 shares of the asset manager’s stock worth $5,963,000 after acquiring an additional 5,761 shares in the last quarter. Hedge funds and other institutional investors own 30.78% of the company’s stock.

PennantPark Floating Rate Capital Ltd. (PFLT) traded up $0.07 during trading on Tuesday, hitting $14.06. 441,600 shares of the stock traded hands, compared to its average volume of 214,492. PennantPark Floating Rate Capital Ltd. has a 1 year low of $13.24 and a 1 year high of $14.65. The company has a market capitalization of $456.67, a P/E ratio of 12.84 and a beta of 0.60.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 8.11%. The ex-dividend date of this dividend is Thursday, November 16th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 78.08%.

PFLT has been the subject of several recent research reports. Zacks Investment Research upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Tuesday, August 15th. Maxim Group reissued a “buy” rating and issued a $14.75 price objective on shares of PennantPark Floating Rate Capital in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $15.50 price objective on shares of PennantPark Floating Rate Capital in a research note on Thursday, August 31st. Finally, BidaskClub raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. PennantPark Floating Rate Capital currently has an average rating of “Buy” and an average price target of $15.08.

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PennantPark Floating Rate Capital Profile

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.

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

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