Connor Clark & Lunn Investment Management Ltd. Invests $1.05 Million in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 95,680 shares of the asset manager’s stock, valued at approximately $1,046,000. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of PennantPark Floating Rate Capital as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sound Income Strategies LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 12.0% during the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after acquiring an additional 356,781 shares during the period. Van ECK Associates Corp lifted its holdings in shares of PennantPark Floating Rate Capital by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager’s stock worth $21,704,000 after acquiring an additional 187,465 shares during the period. Strategic Financial Concepts LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 1,080.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock worth $7,909,000 after acquiring an additional 662,266 shares during the period. NewEdge Wealth LLC lifted its holdings in PennantPark Floating Rate Capital by 0.6% during the 4th 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 during the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in PennantPark Floating Rate Capital by 9.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 281,626 shares of the asset manager’s stock valued at $3,258,000 after purchasing an additional 23,836 shares during the last quarter. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Trading Down 0.0 %

Shares of PFLT stock opened at $11.12 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $977.63 million, a P/E ratio of 7.94 and a beta of 1.67. PennantPark Floating Rate Capital Ltd. has a 12-month low of $10.28 and a 12-month high of $12.02. The firm has a 50-day moving average price of $11.15 and a 200 day moving average price of $11.22.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 11.07%. The ex-dividend date is Friday, March 14th. PennantPark Floating Rate Capital’s payout ratio is presently 87.86%.

Wall Street Analysts Forecast Growth

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

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.