Muzinich & Co. Inc. Sells 4,221 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Muzinich & Co. Inc. decreased its position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 7.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 51,655 shares of the asset manager’s stock after selling 4,221 shares during the period. Muzinich & Co. Inc.’s holdings in PennantPark Floating Rate Capital were worth $598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC boosted its stake in shares of PennantPark Floating Rate Capital by 11.5% during the third quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock valued at $34,285,000 after purchasing an additional 306,690 shares in the last quarter. Millennium Management LLC raised its holdings in PennantPark Floating Rate Capital by 391.3% in the 2nd quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock valued at $9,046,000 after buying an additional 624,342 shares during the last quarter. Van ECK Associates Corp boosted its position in PennantPark Floating Rate Capital by 22.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock worth $20,554,000 after buying an additional 330,731 shares during the period. Strategic Financial Concepts LLC grew its holdings in PennantPark Floating Rate Capital by 1,151.8% during the 2nd quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock worth $81,000 after acquiring an additional 642,706 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in PennantPark Floating Rate Capital by 50.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 58,395 shares of the asset manager’s stock valued at $665,000 after acquiring an additional 19,685 shares during the period. Institutional investors own 19.77% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PFLT shares. Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, August 12th. JMP Securities reduced their price target on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

PennantPark Floating Rate Capital Price Performance

PFLT stock opened at $11.03 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. The firm has a market cap of $809.82 million, a price-to-earnings ratio of 8.69 and a beta of 1.69. The company’s fifty day simple moving average is $11.46 and its 200 day simple moving average is $11.38. PennantPark Floating Rate Capital Ltd. has a 12-month low of $10.28 and a 12-month high of $12.63.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.23 annualized dividend and a dividend yield of 11.15%. PennantPark Floating Rate Capital’s payout ratio is 75.93%.

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.