Pennantpark Floating Rate Capital Ltd (PFLT) Holdings Boosted by Sound Income Strategies LLC

Sound Income Strategies LLC grew its position in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,082,030 shares of the asset manager’s stock after acquiring an additional 38,525 shares during the quarter. Pennantpark Floating Rate Capital accounts for 6.5% of Sound Income Strategies LLC’s holdings, making the stock its 8th biggest position. Sound Income Strategies LLC’s holdings in Pennantpark Floating Rate Capital were worth $12,519,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its position in Pennantpark Floating Rate Capital by 2.1% during the 3rd quarter. Legal & General Group Plc now owns 150,628 shares of the asset manager’s stock worth $1,982,000 after acquiring an additional 3,152 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Pennantpark Floating Rate Capital by 18.6% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 29,073 shares of the asset manager’s stock worth $397,000 after acquiring an additional 4,562 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in Pennantpark Floating Rate Capital during the 3rd quarter worth approximately $113,000. Commonwealth Equity Services LLC boosted its position in Pennantpark Floating Rate Capital by 22.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 50,750 shares of the asset manager’s stock worth $667,000 after acquiring an additional 9,387 shares during the last quarter. Finally, Visionary Asset Management Inc. acquired a new position in Pennantpark Floating Rate Capital during the 3rd quarter worth approximately $133,000. 33.48% of the stock is owned by hedge funds and other institutional investors.

Shares of Pennantpark Floating Rate Capital stock traded up $0.06 on Friday, reaching $12.45. 230 shares of the company were exchanged, compared to its average volume of 221,527. Pennantpark Floating Rate Capital Ltd has a one year low of $11.05 and a one year high of $14.12. The stock has a market cap of $480.00 million, a P/E ratio of 11.72 and a beta of 0.60.

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

The firm also recently declared a monthly dividend, which will be paid on Friday, February 1st. Investors of record on Thursday, January 17th will be paid a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 9.16%. The ex-dividend date of this dividend is Wednesday, January 16th. This is a boost from Pennantpark Floating Rate Capital’s previous monthly dividend of $0.08. Pennantpark Floating Rate Capital’s dividend payout ratio is 89.62%.

PFLT has been the topic of a number of analyst reports. LADENBURG THALM/SH SH upgraded Pennantpark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Friday, November 16th. ValuEngine cut Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Friday, September 14th. BidaskClub upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 13th. Finally, Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Tuesday, November 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $14.63.

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About Pennantpark Floating Rate Capital

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.

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

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