CreativeOne Wealth LLC Makes New Investment in PennantPark Floating Rate Capital Ltd. $PFLT

CreativeOne Wealth LLC bought a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 12,006 shares of the asset manager’s stock, valued at approximately $124,000.

Other hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its position in PennantPark Floating Rate Capital by 1,603.7% during the 2nd quarter. Allworth Financial LP now owns 2,777 shares of the asset manager’s stock worth $29,000 after acquiring an additional 2,614 shares in the last quarter. CWM LLC purchased a new stake in shares of PennantPark Floating Rate Capital during the second quarter valued at approximately $49,000. Golden State Wealth Management LLC acquired a new position in shares of PennantPark Floating Rate Capital during the second quarter worth $101,000. Foundations Investment Advisors LLC purchased a new position in shares of PennantPark Floating Rate Capital in the second quarter valued at $172,000. Finally, AE Wealth Management LLC boosted its stake in shares of PennantPark Floating Rate Capital by 18.7% in the second quarter. AE Wealth Management LLC now owns 21,641 shares of the asset manager’s stock valued at $224,000 after purchasing an additional 3,416 shares during the period. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT stock opened at $9.10 on Tuesday. The stock has a market capitalization of $902.88 million, a price-to-earnings ratio of 6.50 and a beta of 0.96. PennantPark Floating Rate Capital Ltd. has a one year low of $8.40 and a one year high of $11.50. The company’s 50-day simple moving average is $9.02 and its 200-day simple moving average is $9.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were given a $0.1025 dividend. The ex-dividend date was Monday, November 17th. This represents a c) annualized dividend and a dividend yield of 13.5%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 168.49%.

Analyst Ratings Changes

Several research firms recently issued reports on PFLT. LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital to a “strong-buy” rating in a research note on Wednesday, August 13th. UBS Group dropped their target price on PennantPark Floating Rate Capital from $10.50 to $9.50 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and set a $10.50 price target for the company in a report on Monday, October 6th. Finally, JMP Securities restated a “market outperform” rating and set a $11.00 price objective on shares of PennantPark Floating Rate Capital in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.67.

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.