224,800 Shares in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Acquired by GraniteShares Advisors LLC

GraniteShares Advisors LLC acquired a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 224,800 shares of the asset manager’s stock, valued at approximately $2,457,000. GraniteShares Advisors LLC owned about 0.27% of PennantPark Floating Rate Capital as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in PennantPark Floating Rate Capital in the third quarter worth approximately $39,000. Jmac Enterprises LLC acquired a new position in PennantPark Floating Rate Capital in the third quarter worth approximately $120,000. Sigma Planning Corp acquired a new position in PennantPark Floating Rate Capital in the fourth quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in PennantPark Floating Rate Capital in the fourth quarter worth approximately $131,000. Finally, Blue Trust Inc. acquired a new position in PennantPark Floating Rate Capital in the fourth quarter worth approximately $136,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Raymond James assumed coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday.

PennantPark Floating Rate Capital Trading Down 1.1 %

Shares of PFLT stock opened at $11.21 on Wednesday. PennantPark Floating Rate Capital Ltd. has a 12 month low of $10.28 and a 12 month high of $12.02. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $11.07 and its two-hundred day moving average is $11.22. The company has a market cap of $985.55 million, a PE ratio of 8.00 and a beta of 1.65.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.23 annualized dividend and a dividend yield of 10.98%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

PennantPark Floating Rate Capital 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.