Janney Montgomery Scott LLC raised its holdings in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 445,693 shares of the asset manager’s stock after acquiring an additional 4,554 shares during the period. Janney Montgomery Scott LLC’s holdings in Pennantpark Floating Rate Capital were worth $5,152,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PFLT. Psagot Investment House Ltd. acquired a new stake in Pennantpark Floating Rate Capital during the 1st quarter valued at approximately $82,000. NEXT Financial Group Inc lifted its stake in Pennantpark Floating Rate Capital by 13.3% during the 2nd quarter. NEXT Financial Group Inc now owns 8,681 shares of the asset manager’s stock valued at $101,000 after acquiring an additional 1,018 shares during the period. First Allied Advisory Services Inc. acquired a new stake in Pennantpark Floating Rate Capital during the 1st quarter valued at approximately $149,000. FNY Investment Advisers LLC lifted its stake in Pennantpark Floating Rate Capital by 6,903.5% during the 2nd quarter. FNY Investment Advisers LLC now owns 19,890 shares of the asset manager’s stock valued at $229,000 after acquiring an additional 19,606 shares during the period. Finally, Bank of Montreal Can acquired a new stake in Pennantpark Floating Rate Capital during the 1st quarter valued at approximately $231,000. Institutional investors and hedge funds own 36.20% of the company’s stock.

In other news, CFO Aviv Efrat purchased 8,200 shares of the stock in a transaction dated Friday, May 17th. The shares were purchased at an average price of $12.05 per share, with a total value of $98,810.00. Following the transaction, the chief financial officer now owns 45,150 shares in the company, valued at approximately $544,057.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Arthur H. Penn bought 8,000 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $11.57 per share, for a total transaction of $92,560.00. The disclosure for this purchase can be found here. In the last three months, insiders have bought 25,200 shares of company stock worth $296,310. Corporate insiders own 1.00% of the company’s stock.

Shares of NASDAQ PFLT opened at $11.53 on Wednesday. The stock has a market cap of $451.31 million, a price-to-earnings ratio of 10.88 and a beta of 0.73. The business has a fifty day moving average of $11.61. Pennantpark Floating Rate Capital Ltd has a one year low of $11.05 and a one year high of $13.79.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its earnings results on Wednesday, August 7th. The asset manager reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01). Pennantpark Floating Rate Capital had a return on equity of 8.83% and a net margin of 16.65%. The business had revenue of $22.88 million for the quarter, compared to analysts’ expectations of $22.90 million. As a group, sell-side analysts anticipate that Pennantpark Floating Rate Capital Ltd will post 1.19 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 19th will be given a dividend of $0.095 per share. The ex-dividend date is Friday, August 16th. This represents a $1.14 annualized dividend and a dividend yield of 9.89%. Pennantpark Floating Rate Capital’s payout ratio is 107.55%.

Several brokerages have commented on PFLT. TheStreet cut shares of Pennantpark Floating Rate Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, May 22nd. 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 Wednesday. Keefe, Bruyette & Woods cut shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $14.00 to $13.00 in a research note on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $13.50.

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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