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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments. It primarily invests between $10 million and $50 million in investments in senior secured loans and mezzanine debt. It seeks to invest in companies not rated by national rating agencies. The companies if rated would be between BB and CCC under the Standard & Poor's system. The fund invests 30% is invested in non-qualifying assets like investments in public companies whose securities are not thinly traded or do not have a market capitalization of less than $250 million, securities of middle-market companies located outside of the United States, high-yield bonds, distressed debt, private equity, securities of public companies that are not thinly traded, and investment companies as defined in the 1940 Act. Under normal conditions, the fund expects atleast 80 percent of its net assets plus any borrowings for investment purposes to be invested in Floating Rate Loans and investments with similar economic characteristics, including cash equivalents invested in money market funds. It expects to represent 65 percent of its portfolio through senior secured loans. In case of floating rate loans, it holds investments for a period of three to ten years.
IPO Year: 2022
Exchange: NASDAQ
Website: pennantpark.com/pflt/about/index.php
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/20/2024 | Mkt Perform | Raymond James | |
| 8/12/2024 | $12.00 | Hold → Buy | Maxim Group |
| 6/8/2023 | $11.00 | Neutral | UBS |
| 8/9/2021 | $13.50 | Buy → Neutral | Ladenburg Thalmann |
| 7/9/2021 | Perform | Oppenheimer |
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
DEF 14A - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
8-K - PennantPark Floating Rate Capital Ltd. (0001504619) (Filer)
Raymond James initiated coverage of PennantPark Floating Rate Capital with a rating of Mkt Perform
Maxim Group upgraded PennantPark Floating Rate Capital from Hold to Buy and set a new price target of $12.00
UBS initiated coverage of PennantPark Floating Rate Capital with a rating of Neutral and set a new price target of $11.00
Ladenburg Thalmann downgraded PennantPark Floating Rate from Buy to Neutral and set a new price target of $13.50
Oppenheimer initiated coverage of PennantPark Floating Rate Capital with a rating of Perform
MIAMI, May 06, 2022 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) (TASE: PFLT) announced today the appointment of Mr. José A. Briones, Jr. to the Company's Board of Directors, effective May 3, 2022. Mr. Briones is a Senior Partner at PennantPark Investment Advisers, LLC ("PennantPark"). His appointment brings the Company's Board of Directors to six members. "On behalf of the Company's Board of Directors and PennantPark, I am delighted to welcome José to the Company's Board of Directors. José has been instrumental to our success, and we look forward to his contributions for many years ahead," said Art Penn, Chairman and CEO. "Our firm continues to p
NEW YORK, June 21, 2021 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) ("we," "our," "PFLT" or the "Company") announced today that it has appointed Richard Cheung as its Chief Financial Officer and Treasurer, effective June 21, 2021. Mr. Cheung most recently served as Senior Managing Director and Head of Alternative Investment Accounting at Guggenheim Partners, LLC ("Guggenheim"), where he has served in various roles since 2008. Prior to joining Guggenheim in 2008, Mr. Cheung spent the majority of his career at Ernst & Young LLP in its financial services industry practice where he managed audits for a variety of funds. Mr. Cheung holds a B.S. in Accounting and Fi
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
3 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
3 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
4 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
3 - PennantPark Floating Rate Capital Ltd. (0001504619) (Issuer)
MIAMI, Jan. 08, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that it will report results for the first fiscal quarter ended December 31, 2024 on Monday, February 10, 2025 after the close of the financial markets. The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Tuesday, February 11, 2025 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (929) 477-0402. All callers should reference conference ID #1777320 or PennantPark Float
MIAMI, Jan. 03, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for January 2025 of $0.1025 per share, payable on February 3, 2025 to stockholders of record as of January 15, 2025. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gain
MIAMI, Dec. 26, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. ("PFLT") (NYSE:PFLT) announced that it has upsized its credit facility, led by Truist Bank (the "Credit Facility") to $736 million from $636 million. Pricing on this facility remained unchanged at SOFR plus 225 basis points. "We are appreciative of the support from all of our existing lending partners. Their support highlights the confidence they have in our excellent long-term track record," said Arthur Penn, Chairman and Chief Executive Officer of PFLT. "We expect that this increased facility will expand our ability to serve middle-market sponsor and borrower clients by providing them with more comprehensiv
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
Joint Venture to Continue to Target the Attractive Core Middle Market Joint Venture Is Generating Strong Returns MIAMI, Dec. 12, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. ("PFLT") (NYSE:PFLT) today announced it has agreed to expand its investment in PennantPark Senior Secured Loan Fund I LLC ("PSSL" or the "JV"). This transaction further strengthens this strategic partnership, which was put into place over seven years ago, and has generated strong returns to date. PFLT and its JV partner jointly agreed to invest an additional $100 million of capital in PSSL. In conjunction with increased leverage capacity at PSSL, the $100 million investment will expand the JV's t
MIAMI, Dec. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for December 2024 of $0.1025 per share, payable on January 2, 2025 to stockholders of record as of December 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gai
MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) (the "Company") announced today financial results for the fourth quarter and fiscal year ended September 30, 2024. HIGHLIGHTS Year ended September 30, 2024 ($ in millions, except per share amounts) Assets and Liabilities: Investment portfolio (1) $1,983.5 Net assets $877.3 GAAP net asset value per share $11.31 Quarterly decrease in GAAP net asset value per share (0.3)%Adjusted net asset value per share (2) $11.31 Quarterly decrease in adjusted net asset value per share (2) (0.3)% Credit Facility $443.9 2036 Asset-Backed Debt $284.1 2036-R Asset Backe
MIAMI, Nov. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for November 2024 of $0.1025 per share, payable on December 2, 2024 to stockholders of record as of November 15, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital ga
MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets. The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Tuesday November 26, 2024 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #3226260 or PennantPark Floa
MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for October 2024 of $0.1025 per share, payable on November 1, 2024 to stockholders of record as of October 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gain
MIAMI, Jan. 08, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that it will report results for the first fiscal quarter ended December 31, 2024 on Monday, February 10, 2025 after the close of the financial markets. The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Tuesday, February 11, 2025 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (929) 477-0402. All callers should reference conference ID #1777320 or PennantPark Float
MIAMI, Jan. 03, 2025 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for January 2025 of $0.1025 per share, payable on February 3, 2025 to stockholders of record as of January 15, 2025. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gain
NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Keefe, Bruyette & Woods, Inc., a leading specialist investment bank to the financial services and fintech sectors, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE:SF), announces the upcoming index rebalancing for the fourth quarter of 2024. This quarter, there are constituent changes within four of our indexes: the KBW Nasdaq Capital Markets Index (Index Ticker: KSX, ETF Ticker:N/A), KBW Nasdaq Financial Technology Index (Index Ticker: KFTX, ETF Ticker: FTEK.LN), KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX, ETF Ticker: KBWD), and KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX, ETF Ticker: KBWY
MIAMI, Dec. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for December 2024 of $0.1025 per share, payable on January 2, 2025 to stockholders of record as of December 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gai
MIAMI, Nov. 25, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) (the "Company") announced today financial results for the fourth quarter and fiscal year ended September 30, 2024. HIGHLIGHTS Year ended September 30, 2024 ($ in millions, except per share amounts) Assets and Liabilities: Investment portfolio (1) $1,983.5 Net assets $877.3 GAAP net asset value per share $11.31 Quarterly decrease in GAAP net asset value per share (0.3)%Adjusted net asset value per share (2) $11.31 Quarterly decrease in adjusted net asset value per share (2) (0.3)% Credit Facility $443.9 2036 Asset-Backed Debt $284.1 2036-R Asset Backe
MIAMI, Nov. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for November 2024 of $0.1025 per share, payable on December 2, 2024 to stockholders of record as of November 15, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital ga
MIAMI, Oct. 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that it will report results for the fourth fiscal quarter ended September 30, 2024 on Monday, November 25, 2024 after the close of the financial markets. The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Tuesday November 26, 2024 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 394-8218 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #3226260 or PennantPark Floa
MIAMI, Oct. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for October 2024 of $0.1025 per share, payable on November 1, 2024 to stockholders of record as of October 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gain
MIAMI, Sept. 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for September 2024 of $0.1025 per share, payable on October 1, 2024 to stockholders of record as of September 16, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital
MIAMI, Aug. 07, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced today its financial results for the third quarter ended June 30, 2024. HIGHLIGHTSQuarter ended June 30, 2024 (Unaudited)($ in millions, except per share amounts) Assets and Liabilities: Investment portfolio (1) $1,658.9 Net assets $816.7 GAAP net asset value per share $11.34 Quarterly increase in GAAP net asset value per share (0.5)%Adjusted net asset value per share (2) $11.34 Quarterly increase in adjusted net asset value per share (2) (0.5)% Credit Facility $218.9 2036 Asset-Backed Debt $284.0 2031 Asset-Backed Debt $209.9 2026 Notes $183.6 Regulatory debt