PennantPark Floating Rate (NASDAQ:PFLT) announced a monthly dividend on Monday, March 5th, Zacks reports. Stockholders of record on Monday, March 19th will be given a dividend of 0.095 per share by the asset manager on Monday, April 2nd. This represents a $1.14 annualized dividend and a dividend yield of 8.72%. The ex-dividend date is Friday, March 16th.
PFLT stock traded down $0.01 during trading hours on Monday, hitting $13.08. 129,172 shares of the stock were exchanged, compared to its average volume of 298,844. The stock has a market capitalization of $507.53, a price-to-earnings ratio of 11.89 and a beta of 0.56. PennantPark Floating Rate has a 12 month low of $12.00 and a 12 month high of $14.65.
PennantPark Floating Rate (NASDAQ:PFLT) last released its earnings results on Thursday, February 8th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). PennantPark Floating Rate had a net margin of 47.64% and a return on equity of 7.49%. The business had revenue of $14.84 million during the quarter, compared to the consensus estimate of $15.29 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s revenue was up 17.5% on a year-over-year basis. equities research analysts expect that PennantPark Floating Rate will post 0.74 earnings per share for the current fiscal year.
In other PennantPark Floating Rate news, insider Arthur H. Penn acquired 9,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The shares were acquired at an average price of $12.98 per share, with a total value of $116,820.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Arthur H. Penn acquired 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was acquired at an average cost of $12.57 per share, for a total transaction of $125,700.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 36,000 shares of company stock valued at $457,400. 1.00% of the stock is currently owned by corporate insiders.
A number of brokerages have recently commented on PFLT. Keefe, Bruyette & Woods set a $15.00 price target on PennantPark Floating Rate and gave the company a “buy” rating in a research note on Friday, February 9th. Zacks Investment Research raised PennantPark Floating Rate from a “sell” rating to a “hold” rating in a research note on Tuesday, February 6th. BidaskClub raised PennantPark Floating Rate from a “strong sell” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Maxim Group cut their price objective on PennantPark Floating Rate from $14.75 to $14.00 and set a “buy” rating on the stock in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $14.94.
PennantPark Floating Rate Company Profile
PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.
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