BlueMountain Capital Management LLC purchased a new stake in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,054 shares of the asset manager’s stock, valued at approximately $137,000.

A number of other hedge funds also recently modified their holdings of PFLT. Punch & Associates Investment Management Inc. increased its position in Pennantpark Floating Rate Capital by 5.2% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 791,644 shares of the asset manager’s stock worth $10,363,000 after purchasing an additional 39,440 shares during the period. Janney Montgomery Scott LLC increased its position in Pennantpark Floating Rate Capital by 1.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 508,850 shares of the asset manager’s stock worth $6,951,000 after purchasing an additional 8,586 shares during the period. Relative Value Partners Group LLC increased its position in Pennantpark Floating Rate Capital by 4.5% during the 1st quarter. Relative Value Partners Group LLC now owns 319,825 shares of the asset manager’s stock worth $4,187,000 after purchasing an additional 13,852 shares during the period. Stifel Financial Corp increased its position in Pennantpark Floating Rate Capital by 16.3% during the 1st quarter. Stifel Financial Corp now owns 255,913 shares of the asset manager’s stock worth $3,360,000 after purchasing an additional 35,948 shares during the period. Finally, Pin Oak Investment Advisors Inc. increased its position in Pennantpark Floating Rate Capital by 97.9% during the 1st quarter. Pin Oak Investment Advisors Inc. now owns 222,758 shares of the asset manager’s stock worth $2,916,000 after purchasing an additional 110,185 shares during the period. Hedge funds and other institutional investors own 33.14% of the company’s stock.

PFLT has been the topic of several recent analyst reports. Maxim Group boosted their target price on Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the stock a “buy” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. boosted their target price on Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the stock an “overweight” rating in a research report on Friday, August 10th. BidaskClub lowered Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Zacks Investment Research raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, August 14th. Finally, TheStreet raised Pennantpark Floating Rate Capital from a “c+” rating to a “b-” rating in a research note on Tuesday, June 12th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.13.

Shares of NASDAQ:PFLT opened at $13.33 on Wednesday. The company has a market cap of $518.38 million, a PE ratio of 12.12 and a beta of 0.52. Pennantpark Floating Rate Capital Ltd has a 12 month low of $12.00 and a 12 month high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings results on Wednesday, August 8th. The asset manager reported $0.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The business had revenue of $19.53 million for the quarter, compared to analyst estimates of $17.93 million. Pennantpark Floating Rate Capital had a return on equity of 7.86% and a net margin of 48.08%. research analysts expect that Pennantpark Floating Rate Capital Ltd will post 0.97 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 2nd. Stockholders of record on Monday, September 17th will be paid a dividend of $0.078 per share. This represents a $0.94 annualized dividend and a dividend yield of 7.02%. The ex-dividend date of this dividend is Friday, September 14th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 103.64%.

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

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