HighTower Advisors LLC Sells 9,561 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

HighTower Advisors LLC lowered its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,246 shares of the asset manager’s stock after selling 9,561 shares during the period. HighTower Advisors LLC’s holdings in PennantPark Floating Rate Capital were worth $1,262,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Paloma Partners Management Co bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at $174,000. Advisors Asset Management Inc. increased its holdings in PennantPark Floating Rate Capital by 9.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 281,626 shares of the asset manager’s stock worth $3,258,000 after purchasing an additional 23,836 shares in the last quarter. Jmac Enterprises LLC bought a new position in PennantPark Floating Rate Capital during the 3rd quarter worth about $120,000. Graypoint LLC increased its holdings in PennantPark Floating Rate Capital by 2.7% during the 3rd quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock worth $801,000 after purchasing an additional 1,844 shares in the last quarter. Finally, Crescent Grove Advisors LLC bought a new position in PennantPark Floating Rate Capital during the 3rd quarter worth about $476,000. Institutional investors own 19.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Monday, November 25th.

PennantPark Floating Rate Capital Trading Down 1.1 %

Shares of NASDAQ:PFLT opened at $10.81 on Tuesday. PennantPark Floating Rate Capital Ltd. has a 52-week low of $10.28 and a 52-week high of $12.63. The company has a market capitalization of $899.72 million, a P/E ratio of 7.56 and a beta of 1.65. The company has a 50-day simple moving average of $11.27 and a 200 day simple moving average of $11.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.1025 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.23 annualized dividend and a yield of 11.38%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 86.01%.

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.