Mirae Asset Global Investments Co. Ltd. Makes New $131,000 Investment in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Mirae Asset Global Investments Co. Ltd. bought a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 12,069 shares of the asset manager’s stock, valued at approximately $131,000.

Several other hedge funds have also made changes to their positions in PFLT. PFG Investments LLC raised its stake in shares of PennantPark Floating Rate Capital by 2.0% during the fourth quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock worth $1,171,000 after purchasing an additional 2,118 shares during the last quarter. Sound Income Strategies LLC increased its stake in PennantPark Floating Rate Capital by 12.0% in the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock valued at $36,288,000 after buying an additional 356,781 shares during the period. Graypoint LLC raised its position in PennantPark Floating Rate Capital by 2.7% during the 4th quarter. Graypoint LLC now owns 71,156 shares of the asset manager’s stock worth $778,000 after buying an additional 1,897 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of PennantPark Floating Rate Capital by 72.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after acquiring an additional 105,855 shares during the period. Finally, Tidal Investments LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 7.4% in the third quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager’s stock valued at $1,169,000 after acquiring an additional 6,966 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Stock Up 0.1 %

Shares of NASDAQ:PFLT opened at $11.24 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63. The firm has a market cap of $988.89 million, a price-to-earnings ratio of 7.86 and a beta of 1.65. The stock’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $11.20. PennantPark Floating Rate Capital Ltd. has a 12-month low of $10.28 and a 12-month high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.94%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 87.86%.

Wall Street Analyst Weigh In

PFLT has been the topic of several recent analyst reports. Raymond James began coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating on the stock. StockNews.com upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday.

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.