JPMorgan Chase & Co. Increases Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

JPMorgan Chase & Co. raised its stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 72.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,733 shares of the asset manager’s stock after purchasing an additional 105,855 shares during the quarter. JPMorgan Chase & Co.’s holdings in PennantPark Floating Rate Capital were worth $2,913,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new stake in shares of PennantPark Floating Rate Capital in the second quarter valued at about $34,000. Wilmington Savings Fund Society FSB purchased a new position in PennantPark Floating Rate Capital in the 3rd quarter worth approximately $39,000. Calton & Associates Inc. acquired a new stake in PennantPark Floating Rate Capital in the third quarter valued at approximately $119,000. Jmac Enterprises LLC acquired a new stake in PennantPark Floating Rate Capital in the third quarter valued at approximately $120,000. Finally, Paloma Partners Management Co purchased a new stake in shares of PennantPark Floating Rate Capital during the third quarter valued at approximately $174,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT opened at $11.18 on Monday. The firm has a market cap of $930.68 million, a price-to-earnings ratio of 7.82 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. The business’s 50 day moving average is $11.00 and its two-hundred day moving average is $11.25. PennantPark Floating Rate Capital Ltd. has a 52-week low of $10.28 and a 52-week high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.1025 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.23 dividend on an annualized basis and a yield of 11.00%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 86.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PFLT shares. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating for the company. StockNews.com raised 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 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.