Mckinley Capital Management LLC Sells 1,050 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Mckinley Capital Management LLC decreased its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTFree Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,922 shares of the asset manager’s stock after selling 1,050 shares during the quarter. Mckinley Capital Management LLC owned about 0.14% of PennantPark Floating Rate Capital worth $1,003,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in PennantPark Floating Rate Capital by 55.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 19,936 shares of the asset manager’s stock valued at $213,000 after purchasing an additional 7,138 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of PennantPark Floating Rate Capital by 21.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 41,448 shares of the asset manager’s stock valued at $442,000 after buying an additional 7,228 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of PennantPark Floating Rate Capital during the third quarter valued at about $130,000. Sigma Planning Corp increased its position in shares of PennantPark Floating Rate Capital by 8.3% during the third quarter. Sigma Planning Corp now owns 18,616 shares of the asset manager’s stock valued at $198,000 after buying an additional 1,429 shares during the period. Finally, Virtus ETF Advisers LLC grew its holdings in shares of PennantPark Floating Rate Capital by 121.8% during the third quarter. Virtus ETF Advisers LLC now owns 71,142 shares of the asset manager’s stock worth $758,000 after purchasing an additional 39,064 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Price Performance

PFLT traded up $0.03 on Monday, hitting $11.31. 477,107 shares of the company’s stock traded hands, compared to its average volume of 765,016. The company’s 50 day simple moving average is $11.32 and its 200-day simple moving average is $11.41. The firm has a market cap of $754.72 million, a price-to-earnings ratio of 8.55 and a beta of 1.66. PennantPark Floating Rate Capital Ltd. has a one year low of $9.69 and a one year high of $12.63. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.71.

PennantPark Floating Rate Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.88%. The ex-dividend date of this dividend is Tuesday, May 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 83.11%.

Wall Street Analysts Forecast Growth

Separately, JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of PennantPark Floating Rate Capital in a report on Tuesday, March 26th.

Read Our Latest Report on PennantPark Floating Rate Capital

About PennantPark Floating Rate Capital

(Free Report)

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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