Optimum Investment Advisors Sells 11,301 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Optimum Investment Advisors decreased its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 39.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,500 shares of the asset manager’s stock after selling 11,301 shares during the quarter. Optimum Investment Advisors’ holdings in PennantPark Floating Rate Capital were worth $191,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in PennantPark Floating Rate Capital during the third quarter worth about $39,000. Investment Partners LTD. bought a new stake in shares of PennantPark Floating Rate Capital in the fourth quarter valued at approximately $109,000. Sigma Planning Corp purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at approximately $119,000. Mirae Asset Global Investments Co. Ltd. bought a new position in PennantPark Floating Rate Capital in the 4th quarter worth approximately $131,000. Finally, Blue Trust Inc. purchased a new position in PennantPark Floating Rate Capital in the 4th quarter valued at approximately $136,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PFLT shares. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday. Raymond James initiated coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ:PFLT opened at $11.19 on Friday. The company has a 50 day moving average of $11.15 and a 200 day moving average of $11.22. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The stock has a market cap of $983.79 million, a P/E ratio of 7.99 and a beta of 1.67. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The company 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 $0.1025 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.23 annualized dividend and a dividend yield of 11.00%. PennantPark Floating Rate Capital’s payout ratio is currently 87.86%.

PennantPark Floating Rate Capital 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.