Jose A. Briones Buys 1,745 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Stock

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Director Jose A. Briones bought 1,745 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was bought at an average cost of $11.40 per share, for a total transaction of $19,893.00. Following the completion of the acquisition, the director now directly owns 319,598 shares of the company’s stock, valued at approximately $3,643,417.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

PennantPark Floating Rate Capital Trading Up 0.2 %

Shares of NASDAQ:PFLT opened at $11.39 on Thursday. The company has a market cap of $759.72 million, a P/E ratio of 7.69 and a beta of 1.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.36 and a quick ratio of 0.36. PennantPark Floating Rate Capital Ltd. has a 1 year low of $9.69 and a 1 year high of $12.63. The stock’s fifty day moving average price is $11.35 and its 200-day moving average price is $11.47.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last announced its quarterly earnings results on Wednesday, May 8th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). The business had revenue of $44.35 million for the quarter, compared to the consensus estimate of $40.24 million. PennantPark Floating Rate Capital had a net margin of 55.99% and a return on equity of 11.44%. Sell-side analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.3 earnings per share for the current year.

PennantPark Floating Rate Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 10.80%. The ex-dividend date of this dividend is Friday, June 14th. PennantPark Floating Rate Capital’s dividend payout ratio is 83.11%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Graypoint LLC lifted its holdings in PennantPark Floating Rate Capital by 2.0% in the fourth quarter. Graypoint LLC now owns 63,938 shares of the asset manager’s stock valued at $774,000 after acquiring an additional 1,238 shares during the period. Global Retirement Partners LLC lifted its holdings in PennantPark Floating Rate Capital by 107.8% in the first quarter. Global Retirement Partners LLC now owns 3,259 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 1,691 shares during the period. Capstone Investment Advisors LLC lifted its holdings in PennantPark Floating Rate Capital by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 21,800 shares of the asset manager’s stock valued at $248,000 after acquiring an additional 1,800 shares during the period. Cape Investment Advisory Inc. bought a new position in PennantPark Floating Rate Capital in the fourth quarter valued at about $29,000. Finally, Optimum Investment Advisors lifted its holdings in PennantPark Floating Rate Capital by 11.6% in the fourth quarter. Optimum Investment Advisors now owns 28,801 shares of the asset manager’s stock valued at $348,000 after acquiring an additional 3,000 shares during the period. Institutional investors own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PennantPark Floating Rate Capital Company 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.