Texas Yale Capital Corp. Buys 16,675 Shares of PennantPark Floating Rate Capital Ltd. (PFLT)

Texas Yale Capital Corp. lifted its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 22.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,419 shares of the asset manager’s stock after buying an additional 16,675 shares during the period. Texas Yale Capital Corp. owned about 0.28% of PennantPark Floating Rate Capital worth $1,338,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PFLT. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth $147,000. CIBC World Markets Inc. purchased a new stake in shares of PennantPark Floating Rate Capital during the second quarter worth $202,000. GSA Capital Partners LLP purchased a new stake in shares of PennantPark Floating Rate Capital during the second quarter worth $207,000. Sigma Planning Corp purchased a new stake in shares of PennantPark Floating Rate Capital during the second quarter worth $215,000. Finally, First Allied Advisory Services Inc. raised its holdings in shares of PennantPark Floating Rate Capital by 1.6% during the second quarter. First Allied Advisory Services Inc. now owns 19,160 shares of the asset manager’s stock worth $269,000 after acquiring an additional 299 shares in the last quarter. 30.70% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently commented on PFLT shares. Keefe, Bruyette & Woods set a $16.00 price objective on PennantPark Floating Rate Capital and gave the stock a “buy” rating in a research note on Thursday, October 5th. Zacks Investment Research lowered PennantPark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, BidaskClub upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $15.08.

Shares of PennantPark Floating Rate Capital Ltd. (PFLT) opened at $13.95 on Friday. PennantPark Floating Rate Capital Ltd. has a 1 year low of $13.24 and a 1 year high of $14.65. The firm has a market capitalization of $533.33, a PE ratio of 12.60 and a beta of 0.59.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). PennantPark Floating Rate Capital had a return on equity of 7.66% and a net margin of 61.05%. The firm had revenue of $18.45 million for the quarter, compared to analyst estimates of $19.40 million. During the same period last year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. equities research analysts anticipate that PennantPark Floating Rate Capital Ltd. will post 1.08 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Tuesday, December 26th will be given a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 8.17%. The ex-dividend date of this dividend is Friday, December 22nd. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 95.00%.

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PennantPark Floating Rate Capital 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.

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

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