Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Shares Bought by Guggenheim Capital LLC

Guggenheim Capital LLC lifted its holdings in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 26.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 66,286 shares of the asset manager’s stock after buying an additional 13,711 shares during the quarter. Guggenheim Capital LLC owned approximately 0.17% of Pennantpark Floating Rate Capital worth $868,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PFLT. BlackRock Inc. boosted its position in Pennantpark Floating Rate Capital by 2.1% during the 1st quarter. BlackRock Inc. now owns 212,351 shares of the asset manager’s stock valued at $2,780,000 after acquiring an additional 4,409 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Pennantpark Floating Rate Capital by 35.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,511 shares of the asset manager’s stock valued at $321,000 after acquiring an additional 6,462 shares in the last quarter. Wedbush Securities Inc. boosted its position in Pennantpark Floating Rate Capital by 29.6% during the 1st quarter. Wedbush Securities Inc. now owns 34,319 shares of the asset manager’s stock valued at $449,000 after acquiring an additional 7,841 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in Pennantpark Floating Rate Capital during the 4th quarter valued at $124,000. Finally, Wells Fargo & Company MN boosted its position in Pennantpark Floating Rate Capital by 13.4% during the 4th quarter. Wells Fargo & Company MN now owns 83,759 shares of the asset manager’s stock valued at $1,149,000 after acquiring an additional 9,873 shares in the last quarter. Hedge funds and other institutional investors own 34.84% of the company’s stock.

Several analysts have issued reports on the company. TheStreet raised Pennantpark Floating Rate Capital from a “c+” rating to a “b-” rating in a research report on Tuesday, June 12th. BidaskClub raised Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research report on Saturday, June 16th. JPMorgan Chase & Co. increased their target price on Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the company an “overweight” rating in a research report on Friday. Maxim Group increased their target price on Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Investment Research cut Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $13.38.

Pennantpark Floating Rate Capital opened at $13.64 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $530.40 million, a PE ratio of 12.40 and a beta of 0.55. Pennantpark Floating Rate Capital Ltd has a 1-year low of $12.00 and a 1-year high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Wednesday, August 8th. The asset manager reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.04. The firm had revenue of $19.53 million during the quarter, compared to analysts’ expectations of $17.93 million. Pennantpark Floating Rate Capital had a return on equity of 7.95% and a net margin of 48.08%. research analysts expect that Pennantpark Floating Rate Capital Ltd will post 1.03 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st will be given a $0.077 dividend. The ex-dividend date of this dividend is Monday, August 20th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 6.77%. Pennantpark Floating Rate Capital’s payout ratio is 20.91%.

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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