WESPAC Advisors LLC lessened its holdings in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 41.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 48,562 shares of the asset manager’s stock after selling 33,882 shares during the quarter. WESPAC Advisors LLC owned 0.13% of Pennantpark Floating Rate Capital worth $663,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Pennantpark Floating Rate Capital in the 2nd quarter valued at $1,787,000. Janney Montgomery Scott LLC boosted its holdings in shares of Pennantpark Floating Rate Capital by 1.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 508,850 shares of the asset manager’s stock valued at $6,951,000 after purchasing an additional 8,586 shares in the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in shares of Pennantpark Floating Rate Capital by 10.3% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 108,312 shares of the asset manager’s stock valued at $1,480,000 after purchasing an additional 10,106 shares in the last quarter. Rational Advisors LLC acquired a new stake in shares of Pennantpark Floating Rate Capital in the 1st quarter valued at $505,000. Finally, Legal & General Group Plc boosted its holdings in shares of Pennantpark Floating Rate Capital by 12.3% in the 1st quarter. Legal & General Group Plc now owns 138,047 shares of the asset manager’s stock valued at $1,808,000 after purchasing an additional 15,158 shares in the last quarter. 34.84% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ PFLT opened at $13.60 on Friday. Pennantpark Floating Rate Capital Ltd has a twelve month low of $12.00 and a twelve month high of $14.65. The firm has a market cap of $528.85 million, a P/E ratio of 12.36 and a beta of 0.55.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings data on Wednesday, August 8th. The asset manager reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. Pennantpark Floating Rate Capital had a return on equity of 7.86% and a net margin of 48.08%. The company had revenue of $19.53 million for the quarter, compared to the consensus estimate of $17.93 million. research analysts forecast that Pennantpark Floating Rate Capital Ltd will post 1.03 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 4th. Investors of record on Tuesday, August 21st will be issued a dividend of $0.077 per share. This represents a $0.92 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Monday, August 20th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 20.91%.

PFLT has been the topic of several recent research reports. BidaskClub downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, July 21st. Zacks Investment Research raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday. LADENBURG THALM/SH SH downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a report on Monday, May 14th. They noted that the move was a valuation call. ValuEngine downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. raised their price objective on Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the company an “overweight” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $13.13.

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

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