Denali Advisors LLC Reduces Stock Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Denali Advisors LLC decreased its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 19.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,430 shares of the asset manager’s stock after selling 15,651 shares during the quarter. Denali Advisors LLC’s holdings in PennantPark Floating Rate Capital were worth $693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC increased its stake in shares of PennantPark Floating Rate Capital by 1,080.4% in the 4th quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock worth $7,909,000 after acquiring an additional 662,266 shares during the last quarter. Sound Income Strategies LLC increased its position in PennantPark Floating Rate Capital by 12.0% during the fourth quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after purchasing an additional 356,781 shares during the last quarter. Van ECK Associates Corp increased its position in PennantPark Floating Rate Capital by 22.5% during the third quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after purchasing an additional 330,731 shares during the last quarter. JPMorgan Chase & Co. raised its stake in PennantPark Floating Rate Capital by 72.6% during the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after purchasing an additional 105,855 shares during the period. Finally, Crescent Grove Advisors LLC acquired a new position in PennantPark Floating Rate Capital in the 3rd quarter valued at about $476,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Down 0.3 %

Shares of PFLT stock opened at $11.18 on Thursday. The company has a 50-day moving average of $11.08 and a two-hundred day moving average of $11.22. The firm has a market cap of $982.91 million, a PE ratio of 7.98 and a beta of 1.65. PennantPark Floating Rate Capital Ltd. has a 1-year low of $10.28 and a 1-year high of $12.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Investors 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 annualized dividend and a yield of 11.01%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

Analyst Ratings Changes

PFLT has been the subject of a number of recent analyst reports. Raymond James started coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday.

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.