Pennantpark Floating Rate Capital Ltd (PFLT) Stake Lifted by LGT Capital Partners LTD.

LGT Capital Partners LTD. lifted its holdings in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,000 shares of the asset manager’s stock after acquiring an additional 250,000 shares during the quarter. LGT Capital Partners LTD. owned approximately 2.63% of Pennantpark Floating Rate Capital worth $11,801,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings in shares of Pennantpark Floating Rate Capital by 4.4% in the 4th quarter. Sound Income Strategies LLC now owns 1,089,285 shares of the asset manager’s stock worth $13,485,000 after acquiring an additional 45,780 shares in the last quarter. Advisors Asset Management Inc. raised its position in Pennantpark Floating Rate Capital by 12.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 393,175 shares of the asset manager’s stock worth $5,170,000 after purchasing an additional 42,346 shares during the last quarter. BlackRock Inc. raised its position in Pennantpark Floating Rate Capital by 8.6% in the 3rd quarter. BlackRock Inc. now owns 185,987 shares of the asset manager’s stock worth $2,446,000 after purchasing an additional 14,662 shares during the last quarter. Legal & General Group Plc raised its position in Pennantpark Floating Rate Capital by 2.1% in the 3rd quarter. Legal & General Group Plc now owns 150,628 shares of the asset manager’s stock worth $1,982,000 after purchasing an additional 3,152 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in Pennantpark Floating Rate Capital by 56.4% in the 4th quarter. Confluence Investment Management LLC now owns 138,155 shares of the asset manager’s stock worth $1,598,000 after purchasing an additional 49,843 shares during the last quarter. 33.48% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently weighed in on PFLT. BidaskClub cut shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, November 6th. ValuEngine upgraded shares of Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research cut shares of Pennantpark Floating Rate Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, LADENBURG THALM/SH SH upgraded shares of Pennantpark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Friday, November 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $14.63.

Shares of Pennantpark Floating Rate Capital stock traded up $0.05 on Monday, hitting $12.49. 6,744 shares of the company’s stock traded hands, compared to its average volume of 143,663. The stock has a market capitalization of $480.00 million, a price-to-earnings ratio of 11.78 and a beta of 0.60. Pennantpark Floating Rate Capital Ltd has a one year low of $11.05 and a one year high of $14.12.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, November 14th. The asset manager reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. The company had revenue of $21.30 million during the quarter, compared to analysts’ expectations of $19.92 million. Pennantpark Floating Rate Capital had a net margin of 46.39% and a return on equity of 7.76%. On average, research analysts forecast that Pennantpark Floating Rate Capital Ltd will post 1.2 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Friday, February 1st. Shareholders of record on Thursday, January 17th will be given a dividend of $0.095 per share. This is a boost from Pennantpark Floating Rate Capital’s previous monthly dividend of $0.08. The ex-dividend date is Wednesday, January 16th. This represents a $1.14 annualized dividend and a dividend yield of 9.13%. Pennantpark Floating Rate Capital’s payout ratio is presently 89.62%.

COPYRIGHT VIOLATION NOTICE: “Pennantpark Floating Rate Capital Ltd (PFLT) Stake Lifted by LGT Capital Partners LTD.” was reported by Enterprise Leader and is the sole property of of Enterprise Leader. If you are reading this story on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The correct version of this story can be read at https://theenterpriseleader.com/2019/01/14/pennantpark-floating-rate-capital-ltd-pflt-stake-lifted-by-lgt-capital-partners-ltd.html.

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.

Featured Article: What does the Dow Jones Industrial Average (DJIA) measure?

Want to see what other hedge funds are holding PFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT).

Institutional Ownership by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply