IFP Advisors Inc Reduces Stock Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

IFP Advisors Inc decreased its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 55.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,889 shares of the asset manager’s stock after selling 4,827 shares during the quarter. IFP Advisors Inc’s holdings in PennantPark Floating Rate Capital were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PFLT. Wilmington Savings Fund Society FSB bought a new stake in PennantPark Floating Rate Capital during the 3rd quarter valued at $39,000. Sigma Planning Corp bought a new stake in PennantPark Floating Rate Capital during the 4th quarter valued at $119,000. Jmac Enterprises LLC bought a new stake in PennantPark Floating Rate Capital during the 3rd quarter valued at $120,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in PennantPark Floating Rate Capital during the 4th quarter valued at $131,000. Finally, Blue Trust Inc. bought a new stake in PennantPark Floating Rate Capital during the 4th quarter valued at $136,000. Institutional investors own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFLT. StockNews.com cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Raymond James began coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating on the stock.

PennantPark Floating Rate Capital Stock Down 0.8 %

PFLT opened at $11.04 on Friday. The stock has a market cap of $970.59 million, a PE ratio of 7.88 and a beta of 1.65. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. PennantPark Floating Rate Capital Ltd. has a 52 week low of $10.28 and a 52 week high of $12.02. The business’s fifty day simple moving average is $11.12 and its 200 day simple moving average is $11.22.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.1025 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a yield of 11.15%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 87.86%.

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.