TrueMark Investments LLC Purchases New Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

TrueMark Investments LLC acquired a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,168 shares of the asset manager’s stock, valued at approximately $406,000.

A number of other large investors have also added to or reduced their stakes in the company. NewEdge Wealth LLC grew its holdings in shares of PennantPark Floating Rate Capital by 0.6% in the fourth quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock valued at $3,152,000 after purchasing an additional 1,700 shares in the last quarter. Graypoint LLC grew its stake in shares of PennantPark Floating Rate Capital by 2.7% in the 4th quarter. Graypoint LLC now owns 71,156 shares of the asset manager’s stock worth $778,000 after buying an additional 1,897 shares in the last quarter. PFG Investments LLC increased its holdings in shares of PennantPark Floating Rate Capital by 2.0% in the 4th quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock worth $1,171,000 after buying an additional 2,118 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at about $39,000. Finally, Commonwealth Equity Services LLC raised its position in shares of PennantPark Floating Rate Capital by 10.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,826 shares of the asset manager’s stock valued at $446,000 after buying an additional 3,782 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Stock Performance

PennantPark Floating Rate Capital stock opened at $11.37 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The firm has a market capitalization of $999.62 million, a P/E ratio of 8.12 and a beta of 1.67. PennantPark Floating Rate Capital Ltd. has a 1-year low of $10.28 and a 1-year high of $12.02. The company’s 50-day moving average is $11.17 and its 200 day moving average is $11.21.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.82%. The ex-dividend date is Friday, March 14th. PennantPark Floating Rate Capital’s dividend payout ratio is currently 87.86%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on PFLT shares. StockNews.com cut PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, March 19th. Raymond James began coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock.

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.