Jmac Enterprises LLC Takes Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Jmac Enterprises LLC acquired a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 10,411 shares of the asset manager’s stock, valued at approximately $120,000.

Several other hedge funds also recently modified their holdings of PFLT. Graypoint LLC grew its holdings in PennantPark Floating Rate Capital by 2.7% during the third quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock worth $801,000 after purchasing an additional 1,844 shares during the period. Crescent Grove Advisors LLC bought a new position in PennantPark Floating Rate Capital during the third quarter worth about $476,000. Van ECK Associates Corp grew its holdings in PennantPark Floating Rate Capital by 22.5% during the third quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after purchasing an additional 330,731 shares during the period. International Assets Investment Management LLC grew its holdings in PennantPark Floating Rate Capital by 1,057.0% during the third quarter. International Assets Investment Management LLC now owns 41,421 shares of the asset manager’s stock worth $479,000 after purchasing an additional 37,841 shares during the period. Finally, Calton & Associates Inc. bought a new position in PennantPark Floating Rate Capital during the third quarter worth about $119,000. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Up 0.8 %

Shares of NASDAQ:PFLT opened at $11.28 on Friday. PennantPark Floating Rate Capital Ltd. has a 12-month low of $10.28 and a 12-month high of $12.63. The stock has a market cap of $828.18 million, a PE ratio of 6.96 and a beta of 1.69. The business has a 50 day moving average of $11.49 and a 200-day moving average of $11.39. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). PennantPark Floating Rate Capital had a return on equity of 10.99% and a net margin of 59.16%. The firm had revenue of $48.51 million for the quarter, compared to the consensus estimate of $47.63 million. During the same quarter in the prior year, the firm earned $0.36 EPS. As a group, equities research analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.28 earnings per share for the current year.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 15th will be issued a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.90%. The ex-dividend date is Friday, November 15th. PennantPark Floating Rate Capital’s dividend payout ratio is presently 75.93%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JMP Securities reduced their price target on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating for the company in a report on Tuesday, July 30th. Maxim Group upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a report on Monday, August 12th. Finally, StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

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.