GWN Securities Inc. Invests $250,000 in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

GWN Securities Inc. purchased a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 22,226 shares of the asset manager’s stock, valued at approximately $250,000.

Several other hedge funds have also recently modified their holdings of the stock. Sound Income Strategies LLC lifted its holdings in shares of 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 period. Van ECK Associates Corp lifted its holdings in shares of PennantPark Floating Rate Capital by 10.4% during the fourth quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager’s stock worth $21,704,000 after purchasing an additional 187,465 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 1,080.4% during the fourth quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock worth $7,909,000 after purchasing an additional 662,266 shares during the period. NewEdge Wealth LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 0.6% during the fourth quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock worth $3,152,000 after purchasing an additional 1,700 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in shares of PennantPark Floating Rate Capital by 9.2% during the third 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 during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PFLT has been the subject of several recent research reports. Raymond James initiated coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, March 7th.

PennantPark Floating Rate Capital Price Performance

PennantPark Floating Rate Capital stock opened at $11.10 on Tuesday. PennantPark Floating Rate Capital Ltd. has a one year low of $10.28 and a one year high of $12.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The business has a fifty day moving average of $11.14 and a two-hundred day moving average of $11.22. The company has a market cap of $975.87 million, a P/E ratio of 7.93 and a beta of 1.67.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 11.09%. The ex-dividend date of this dividend is Friday, March 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 87.86%.

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.