Greenwich Investment Management Inc. trimmed its stake in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 4.2% in the second quarter, Holdings Channel.com reports. The fund owned 144,079 shares of the asset manager’s stock after selling 6,340 shares during the quarter. Pennantpark Floating Rate Capital makes up approximately 1.6% of Greenwich Investment Management Inc.’s investment portfolio, making the stock its 20th biggest position. Greenwich Investment Management Inc.’s holdings in Pennantpark Floating Rate Capital were worth $1,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. NEXT Financial Group Inc grew its stake in shares of Pennantpark Floating Rate Capital by 13.3% in the 2nd quarter. NEXT Financial Group Inc now owns 8,681 shares of the asset manager’s stock worth $101,000 after buying an additional 1,018 shares during the last quarter. B. Riley Wealth Management Inc. lifted its stake in shares of Pennantpark Floating Rate Capital by 0.6% in the first quarter. B. Riley Wealth Management Inc. now owns 192,844 shares of the asset manager’s stock valued at $2,470,000 after purchasing an additional 1,178 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Pennantpark Floating Rate Capital by 0.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 381,576 shares of the asset manager’s stock valued at $4,888,000 after purchasing an additional 1,444 shares during the period. Relative Value Partners Group LLC lifted its stake in shares of Pennantpark Floating Rate Capital by 0.7% in the first quarter. Relative Value Partners Group LLC now owns 289,176 shares of the asset manager’s stock valued at $3,732,000 after purchasing an additional 2,005 shares during the period. Finally, Confluence Investment Management LLC lifted its stake in shares of Pennantpark Floating Rate Capital by 1.9% in the first quarter. Confluence Investment Management LLC now owns 140,761 shares of the asset manager’s stock valued at $1,803,000 after purchasing an additional 2,606 shares during the period. 36.20% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on PFLT. LADENBURG THALM/SH SH cut shares of Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Tuesday. TheStreet downgraded shares of Pennantpark Floating Rate Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, May 22nd. BidaskClub downgraded shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods downgraded shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $14.00 to $13.00 in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $13.50.

Shares of PFLT stock opened at $11.72 on Wednesday. The stock has a market capitalization of $451.31 million, a P/E ratio of 11.06 and a beta of 0.73. The company has a fifty day moving average price of $11.61. Pennantpark Floating Rate Capital Ltd has a twelve month low of $11.05 and a twelve month high of $13.79.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last announced its earnings results on Wednesday, August 7th. The asset manager reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $22.88 million during the quarter, compared to analysts’ expectations of $22.90 million. Pennantpark Floating Rate Capital had a net margin of 16.65% and a return on equity of 8.83%. On average, sell-side analysts anticipate that Pennantpark Floating Rate Capital Ltd will post 1.19 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 19th will be issued a $0.095 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.14 annualized dividend and a yield of 9.73%. Pennantpark Floating Rate Capital’s dividend payout ratio is presently 107.55%.

In related news, CFO Aviv Efrat purchased 8,200 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $12.05 per share, with a total value of $98,810.00. Following the completion of the acquisition, the chief financial officer now directly owns 45,150 shares of the company’s stock, valued at approximately $544,057.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Arthur H. Penn purchased 9,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was bought at an average cost of $11.66 per share, for a total transaction of $104,940.00. The disclosure for this purchase can be found here. Insiders purchased 25,200 shares of company stock worth $296,310 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Pennantpark Floating Rate Capital Company 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.

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

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