Synergy Investment Management LLC Takes $227,000 Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Synergy Investment Management LLC bought a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,795 shares of the asset manager’s stock, valued at approximately $227,000.

A number of other institutional investors have also added to or reduced their stakes in PFLT. NewEdge Wealth LLC raised its stake 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 increased its holdings in PennantPark Floating Rate Capital by 2.7% in the 3rd quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock valued at $801,000 after buying an additional 1,844 shares during the period. PFG Investments LLC raised its stake 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 valued at $1,171,000 after buying an additional 2,118 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth about $39,000. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 8.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 66,200 shares of the asset manager’s stock worth $724,000 after acquiring an additional 4,900 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James started coverage on shares of PennantPark Floating Rate Capital in a research 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, February 25th.

PennantPark Floating Rate Capital Price Performance

Shares of PFLT stock opened at $11.30 on Tuesday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $993.46 million, a price-to-earnings ratio of 8.07 and a beta of 1.65. The firm’s 50 day moving average is $11.10 and its 200-day moving average is $11.22. 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 Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th were given a $0.1025 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 10.89%. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

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.