PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) is Sound Income Strategies LLC’s 9th Largest Position

Sound Income Strategies LLC raised its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 12.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,320,039 shares of the asset manager’s stock after purchasing an additional 356,781 shares during the period. PennantPark Floating Rate Capital makes up approximately 2.2% of Sound Income Strategies LLC’s holdings, making the stock its 9th largest holding. Sound Income Strategies LLC’s holdings in PennantPark Floating Rate Capital were worth $36,288,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in PennantPark Floating Rate Capital in the 2nd quarter worth $34,000. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital in the third quarter worth about $39,000. Calton & Associates Inc. purchased a new position in shares of PennantPark Floating Rate Capital in the third quarter worth about $119,000. Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at about $120,000. Finally, Paloma Partners Management Co purchased a new stake in PennantPark Floating Rate Capital during the 3rd quarter valued at about $174,000. Institutional investors own 19.77% of the company’s stock.

Analyst Upgrades and Downgrades

PFLT has been the topic of a number of analyst reports. Raymond James started coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating on the stock. StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, January 15th.

PennantPark Floating Rate Capital Stock Up 0.1 %

Shares of NASDAQ:PFLT opened at $11.28 on Friday. The stock’s 50-day moving average is $11.00 and its 200 day moving average is $11.25. The company has a market cap of $938.42 million, a PE ratio of 8.87 and a beta of 1.65. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. PennantPark Floating Rate Capital Ltd. has a 1 year low of $10.28 and a 1 year high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a dividend of $0.1025 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.23 annualized dividend and a dividend yield of 10.91%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 86.01%.

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.