Tidal Investments LLC Acquires 6,966 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Tidal Investments LLC lifted its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 7.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 101,012 shares of the asset manager’s stock after purchasing an additional 6,966 shares during the period. Tidal Investments LLC owned 0.14% of PennantPark Floating Rate Capital worth $1,169,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Strategic Financial Concepts LLC grew its holdings in PennantPark Floating Rate Capital by 1,151.8% during the second quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock valued at $81,000 after purchasing an additional 642,706 shares during the period. Millennium Management LLC boosted its position in shares of PennantPark Floating Rate Capital by 391.3% during the second quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock worth $9,046,000 after purchasing an additional 624,342 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of PennantPark Floating Rate Capital by 22.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock valued at $20,554,000 after buying an additional 330,731 shares during the period. Sound Income Strategies LLC increased its position in shares of PennantPark Floating Rate Capital by 11.5% in the 3rd quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock valued at $34,285,000 after buying an additional 306,690 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in PennantPark Floating Rate Capital during the 2nd quarter worth $1,769,000. 19.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 25th.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT opened at $10.71 on Friday. The firm’s 50 day moving average price is $11.23 and its two-hundred day moving average price is $11.33. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18. PennantPark Floating Rate Capital Ltd. has a twelve month low of $10.28 and a twelve month high of $12.63. The firm has a market cap of $891.39 million, a P/E ratio of 7.49 and a beta of 1.65.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 11.48%. The ex-dividend date is Monday, December 16th. PennantPark Floating Rate Capital’s payout ratio is presently 86.01%.

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.