Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) CFO Buys $86,098.50 in Stock

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) CFO Aviv Efrat acquired 18,050 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was purchased at an average cost of $4.77 per share, with a total value of $86,098.50.

Aviv Efrat also recently made the following trade(s):

  • On Friday, March 20th, Aviv Efrat acquired 28,800 shares of Pennantpark Floating Rate Capital stock. The stock was purchased at an average cost of $4.36 per share, with a total value of $125,568.00.

Shares of NASDAQ PFLT traded up $0.65 during mid-day trading on Wednesday, hitting $5.18. 30,989 shares of the company were exchanged, compared to its average volume of 471,751. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.45. The stock has a 50 day simple moving average of $10.21 and a 200-day simple moving average of $11.50. Pennantpark Floating Rate Capital Ltd has a 1-year low of $3.34 and a 1-year high of $13.42. The firm has a market cap of $151.20 million, a price-to-earnings ratio of 12.15 and a beta of 0.78.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Pennantpark Floating Rate Capital had a return on equity of 9.01% and a net margin of 17.37%. The firm had revenue of $24.64 million during the quarter, compared to the consensus estimate of $24.15 million. Analysts anticipate that Pennantpark Floating Rate Capital Ltd will post 1.18 earnings per share for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 18th will be issued a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a dividend yield of 22.01%. The ex-dividend date of this dividend is Tuesday, March 17th. Pennantpark Floating Rate Capital’s dividend payout ratio is presently 97.44%.

Several research firms have recently weighed in on PFLT. Maxim Group downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine downgraded Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Sunday, March 15th. BidaskClub downgraded Pennantpark Floating Rate Capital from a “sell” rating to a “strong sell” rating in a report on Friday, March 13th. Finally, Zacks Investment Research downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Pennantpark Floating Rate Capital currently has a consensus rating of “Hold” and an average price target of $13.50.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC boosted its position in Pennantpark Floating Rate Capital by 13.9% during the 4th quarter. Sound Income Strategies LLC now owns 2,128,356 shares of the asset manager’s stock valued at $25,923,000 after purchasing an additional 259,239 shares during the period. LGT Capital Partners LTD. increased its position in shares of Pennantpark Floating Rate Capital by 14.5% in the fourth quarter. LGT Capital Partners LTD. now owns 944,655 shares of the asset manager’s stock valued at $11,506,000 after acquiring an additional 119,655 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Pennantpark Floating Rate Capital by 22.3% in the fourth quarter. Van ECK Associates Corp now owns 456,290 shares of the asset manager’s stock valued at $5,558,000 after acquiring an additional 83,114 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its position in shares of Pennantpark Floating Rate Capital by 0.8% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 402,377 shares of the asset manager’s stock valued at $4,901,000 after acquiring an additional 3,059 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its position in shares of Pennantpark Floating Rate Capital by 4.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 357,818 shares of the asset manager’s stock valued at $4,358,000 after acquiring an additional 15,735 shares during the last quarter. 36.57% of the stock is owned by hedge funds and other institutional investors.

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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