Advisors Asset Management Inc. Purchases 30,534 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Advisors Asset Management Inc. lifted its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 10.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 312,160 shares of the asset manager’s stock after buying an additional 30,534 shares during the quarter. Advisors Asset Management Inc.’s holdings in PennantPark Floating Rate Capital were worth $3,412,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PFLT. Wilmington Savings Fund Society FSB bought a new stake in PennantPark Floating Rate Capital during the third quarter worth approximately $39,000. Investment Partners LTD. bought a new stake in PennantPark Floating Rate Capital during the fourth quarter worth approximately $109,000. Sigma Planning Corp bought a new stake in PennantPark Floating Rate Capital during the fourth quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in PennantPark Floating Rate Capital during the fourth quarter worth approximately $131,000. Finally, Blue Trust Inc. bought a new stake in PennantPark Floating Rate Capital during the fourth quarter worth approximately $136,000. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PFLT shares. Raymond James started coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Wednesday.

PennantPark Floating Rate Capital Stock Down 0.0 %

Shares of PFLT stock opened at $11.12 on Friday. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02. The firm has a market cap of $977.63 million, a PE ratio of 7.94 and a beta of 1.67. The stock has a 50 day moving average of $11.15 and a 200-day moving average of $11.22. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.07%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 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.