Pennantpark Floating Rate Capital Ltd (PFLT) Director Buys $242,200.00 in Stock

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Director Samuel L. Katz bought 20,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was purchased at an average price of $12.11 per share, for a total transaction of $242,200.00. Following the completion of the acquisition, the director now owns 146,900 shares of the company’s stock, valued at approximately $1,778,959. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Shares of NASDAQ:PFLT opened at $12.10 on Friday. Pennantpark Floating Rate Capital Ltd has a 12 month low of $11.05 and a 12 month high of $14.12. The firm has a market cap of $470.30 million, a P/E ratio of 11.42 and a beta of 0.72.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, May 8th. The asset manager reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Pennantpark Floating Rate Capital had a net margin of 17.80% and a return on equity of 8.80%. The business had revenue of $23.01 million for the quarter, compared to analyst estimates of $22.99 million. Analysts predict that Pennantpark Floating Rate Capital Ltd will post 1.2 EPS for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 9.42%. Pennantpark Floating Rate Capital’s payout ratio is 71.70%.

Several large investors have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new stake in Pennantpark Floating Rate Capital in the 4th quarter valued at $48,000. Psagot Investment House Ltd. acquired a new stake in Pennantpark Floating Rate Capital in the 1st quarter valued at $82,000. Stephens Inc. AR bought a new position in shares of Pennantpark Floating Rate Capital in the 4th quarter valued at about $127,000. Advisor Group Inc. grew its position in shares of Pennantpark Floating Rate Capital by 22.3% in the 1st quarter. Advisor Group Inc. now owns 10,149 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 1,850 shares during the period. Finally, First Allied Advisory Services Inc. bought a new position in shares of Pennantpark Floating Rate Capital in the 1st quarter valued at about $149,000. Institutional investors and hedge funds own 36.48% of the company’s stock.

Several research firms have weighed in on PFLT. Zacks Investment Research lowered shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Wednesday. LADENBURG THALM/SH SH lowered shares of Pennantpark Floating Rate Capital from a “buy” rating to a “neutral” rating in a report on Monday. BidaskClub upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. ValuEngine lowered shares of Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods lowered shares of Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $14.00 to $13.00 in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.13.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this news story can be viewed at https://www.baseballdailydigest.com/news/2019/05/17/pennantpark-floating-rate-capital-ltd-pflt-director-buys-242200-00-in-stock.html.

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.

Featured Article: How to Use the New Google Finance Tool

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.