LGT Capital Partners LTD. Has $6.86 Million Holdings in Pennantpark Floating Rate Capital Ltd (PFLT)

LGT Capital Partners LTD. raised its holdings in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 11.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,000 shares of the asset manager’s stock after acquiring an additional 50,000 shares during the quarter. LGT Capital Partners LTD. owned approximately 1.30% of Pennantpark Floating Rate Capital worth $6,860,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PFLT. Cambridge Investment Research Advisors Inc. bought a new stake in Pennantpark Floating Rate Capital during the third quarter worth approximately $147,000. CIBC World Markets Inc. bought a new stake in Pennantpark Floating Rate Capital during the second quarter worth approximately $202,000. GSA Capital Partners LLP bought a new stake in Pennantpark Floating Rate Capital during the second quarter worth approximately $207,000. First Allied Advisory Services Inc. boosted its position in 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 purchasing an additional 299 shares during the period. Finally, Garner Asset Management Corp bought a new stake in Pennantpark Floating Rate Capital during the second quarter worth approximately $320,000. 26.05% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on PFLT shares. Zacks Investment Research cut Pennantpark Floating Rate Capital from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 5th. Maxim Group reiterated a “buy” rating and set a $14.75 price target on shares of Pennantpark Floating Rate Capital in a report on Friday, December 1st. BidaskClub lowered Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Finally, ValuEngine upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.30.

Shares of Pennantpark Floating Rate Capital Ltd (NASDAQ PFLT) opened at $13.68 on Friday. The company has a market capitalization of $526.41, a price-to-earnings ratio of 12.91 and a beta of 0.54. Pennantpark Floating Rate Capital Ltd has a 1-year low of $13.24 and a 1-year high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Thursday, November 30th. The asset manager reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). The business had revenue of $18.45 million for the quarter, compared to the consensus estimate of $19.40 million. Pennantpark Floating Rate Capital had a return on equity of 7.66% and a net margin of 61.05%. Pennantpark Floating Rate Capital’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 EPS. equities analysts forecast that Pennantpark Floating Rate Capital Ltd will post 1.08 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which was paid on Thursday, February 1st. Investors of record on Thursday, January 18th were issued a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 8.33%. The ex-dividend date was Wednesday, January 17th. Pennantpark Floating Rate Capital’s dividend payout ratio is 107.55%.

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About Pennantpark Floating Rate Capital

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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