Morgan Stanley boosted its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 327,432 shares of the asset manager’s stock after buying an additional 4,617 shares during the period. Morgan Stanley’s holdings in PennantPark Floating Rate Capital were worth $4,564,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in PFLT. Muzinich & Co. Inc. increased its stake in PennantPark Floating Rate Capital by 95.5% in the first quarter. Muzinich & Co. Inc. now owns 1,083,721 shares of the asset manager’s stock valued at $15,107,000 after buying an additional 529,519 shares during the period. UBS Group AG increased its stake in PennantPark Floating Rate Capital by 50.3% in the first quarter. UBS Group AG now owns 806,964 shares of the asset manager’s stock valued at $11,249,000 after buying an additional 270,153 shares during the period. LGT Capital Partners LTD. increased its stake in PennantPark Floating Rate Capital by 34.9% in the first quarter. LGT Capital Partners LTD. now owns 580,000 shares of the asset manager’s stock valued at $8,085,000 after buying an additional 150,000 shares during the period. Ares Management LLC increased its stake in PennantPark Floating Rate Capital by 6.6% in the first quarter. Ares Management LLC now owns 426,268 shares of the asset manager’s stock valued at $5,942,000 after buying an additional 26,500 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in PennantPark Floating Rate Capital by 33.4% in the first quarter. Janney Montgomery Scott LLC now owns 416,835 shares of the asset manager’s stock valued at $5,811,000 after buying an additional 104,371 shares during the period. 34.44% of the stock is currently owned by institutional investors.

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) traded down 0.7236% during midday trading on Friday, hitting $14.0079. The company had a trading volume of 62,875 shares. PennantPark Floating Rate Capital Ltd. has a 52 week low of $12.21 and a 52 week high of $14.45. The firm’s 50 day moving average is $14.23 and its 200-day moving average is $13.97.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Tuesday, August 8th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by $0.03. PennantPark Floating Rate Capital had a return on equity of 7.26% and a net margin of 73.28%. The company had revenue of $15.19 million during the quarter, compared to analysts’ expectations of $15.17 million. On average, equities research analysts expect that PennantPark Floating Rate Capital Ltd. will post $1.14 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be given a $0.095 dividend. The ex-dividend date is Wednesday, August 16th. This represents a $1.14 annualized dividend and a yield of 8.08%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 78.08%.

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Several equities research analysts recently weighed in on PFLT shares. Maxim Group reissued a “buy” rating and set a $14.75 price objective on shares of PennantPark Floating Rate Capital in a report on Wednesday. Zacks Investment Research raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $15.50 in a report on Wednesday, May 10th. Ladenburg Thalmann Financial Services raised PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.75 price objective on the stock in a report on Thursday, May 11th. Finally, BidaskClub downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. PennantPark Floating Rate Capital has a consensus rating of “Hold” and a consensus target price of $14.83.

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.

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

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