Graypoint LLC Has $778,000 Stock Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Graypoint LLC raised its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,156 shares of the asset manager’s stock after buying an additional 1,897 shares during the period. Graypoint LLC’s holdings in PennantPark Floating Rate Capital were worth $778,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PFLT shares. Raymond James started coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, December 24th.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ PFLT opened at $10.93 on Friday. PennantPark Floating Rate Capital Ltd. has a twelve month low of $10.28 and a twelve month high of $12.45. The firm has a fifty day simple moving average of $11.01 and a 200 day simple moving average of $11.28. The company has a market capitalization of $909.70 million, a PE ratio of 7.64 and a beta of 1.65. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63.

PennantPark Floating Rate Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a yield of 11.25%. The ex-dividend date of this dividend is Wednesday, January 15th. PennantPark Floating Rate Capital’s dividend payout ratio is presently 86.01%.

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.