GraniteShares Advisors LLC Invests $2.46 Million in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

GraniteShares Advisors LLC bought a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 4th quarter, HoldingsChannel.com reports. The firm bought 224,800 shares of the asset manager’s stock, valued at approximately $2,457,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Graypoint LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 2.7% during the third quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock valued at $801,000 after acquiring an additional 1,844 shares during the period. PFG Investments LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 2.0% during the fourth quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock valued at $1,171,000 after acquiring an additional 2,118 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of PennantPark Floating Rate Capital during the third quarter valued at $39,000. Strategic Financial Concepts LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 8.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 66,200 shares of the asset manager’s stock valued at $724,000 after acquiring an additional 4,900 shares during the period. Finally, Jmac Enterprises LLC raised its holdings in shares of PennantPark Floating Rate Capital by 50.5% in the fourth quarter. Jmac Enterprises LLC now owns 15,669 shares of the asset manager’s stock valued at $171,000 after buying an additional 5,258 shares during the last quarter. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Performance

PennantPark Floating Rate Capital stock opened at $11.21 on Wednesday. The stock has a 50-day simple moving average of $11.07 and a 200 day simple moving average of $11.22. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. PennantPark Floating Rate Capital Ltd. has a 12-month low of $10.28 and a 12-month high of $12.02. The stock has a market capitalization of $985.55 million, a price-to-earnings ratio of 8.00 and a beta of 1.65.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.1025 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 10.98%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James assumed coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating for the company. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday.

PennantPark Floating Rate Capital 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.