Firethorn Wealth Partners LLC Has $110,000 Stock Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Firethorn Wealth Partners LLC reduced its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 22.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,100 shares of the asset manager’s stock after selling 2,908 shares during the period. Firethorn Wealth Partners LLC’s holdings in PennantPark Floating Rate Capital were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sound Income Strategies LLC increased its holdings in PennantPark Floating Rate Capital by 12.0% in the fourth quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after buying an additional 356,781 shares during the last quarter. Graypoint LLC boosted its holdings in PennantPark Floating Rate Capital by 2.7% in the fourth quarter. Graypoint LLC now owns 71,156 shares of the asset manager’s stock worth $778,000 after purchasing an additional 1,897 shares in the last quarter. JPMorgan Chase & Co. increased its position in PennantPark Floating Rate Capital by 72.6% during the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after buying an additional 105,855 shares during the last quarter. Tidal Investments LLC increased its position in PennantPark Floating Rate Capital by 7.4% during the third quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager’s stock worth $1,169,000 after buying an additional 6,966 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in PennantPark Floating Rate Capital during the third quarter valued at about $39,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Price Performance

PFLT opened at $11.26 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. The company’s 50 day simple moving average is $11.01 and its 200-day simple moving average is $11.24. PennantPark Floating Rate Capital Ltd. has a one year low of $10.28 and a one year high of $12.02. The stock has a market capitalization of $936.75 million, a P/E ratio of 8.87 and a beta of 1.65.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.23 annualized dividend and a yield of 10.93%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 86.01%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PFLT. 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. StockNews.com upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th.

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.