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 |
|---|---|---|---|
| 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 |
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)
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)
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)
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, 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
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
MIAMI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for August 2024 of $0.1025 per share, payable on September 3, 2024 to stockholders of record as of August 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 gains
MIAMI, July 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that it will report results for the third fiscal quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of the financial markets. The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Thursday August 8, 2024 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 204-4368 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #5158165 or PennantPark Floating R
MIAMI, July 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for July 2024 of $0.1025 per share, payable on August 1, 2024 to stockholders of record as of July 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 gains that m
MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for June 2024 of $0.1025 per share, payable on July 1, 2024 to stockholders of record as of June 14, 2024. The distribution is expected to be paid from taxable net investment income. The final specific tax characteristics of the distribution will be reported to stockholders on Form 1099 after the end of the calendar year and in the Company's periodic report filed with the Securities and Exchange Commission. The Company, which operates as a regulated investment company ("RIC"), generates qualified interest income and short-term capital gains that may
MIAMI, May 08, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) announced today its financial results for the second quarter ended March 31, 2024. HIGHLIGHTSQuarter ended March 31, 2024 (Unaudited)($ in millions, except per share amounts) Assets and Liabilities: Investment portfolio (1) $1,477.9 Net assets $720.7 GAAP net asset value per share $11.40 Quarterly increase in GAAP net asset value per share 1.8%Adjusted net asset value per share (2) $11.40 Quarterly increase in adjusted net asset value per share (2) 1.8% Credit Facility $168.9 2036 Asset-Backed Debt $283.8 2031 Asset-Backed Debt $225.3 2026 Notes $183.4 Regulatory debt
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
MIAMI, Aug. 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for August 2024 of $0.1025 per share, payable on September 3, 2024 to stockholders of record as of August 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 gains
MIAMI, July 26, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) today announced that PennantPark CLO I, Ltd ("CLO I"), a wholly-owned and consolidated subsidiary of the Company, has closed the refinancing and upsize of a four-year reinvestment period, twelve-year final maturity $351.0 million debt securitization in the form of a collateralized loan obligation ("CLO"). The debt issued in the CLO (the "Debt") is structured in the following manner: ClassPar Amount($ in millions)% of Capital StructureCouponExpected Rating(S&P)Issuance PriceA-1-R Notes$203,000,000 57.8%3 Mo SOFR + 1.75%AAA100.0%A-2-R Notes 10,500,000 3.0%3 Mo SOFR + 1.90%AAA100.0%B-R
MIAMI, July 03, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that it will report results for the third fiscal quarter ended June 30, 2024 on Wednesday, August 7, 2024 after the close of the financial markets. The Company will also host a conference call at 9:00 a.m. (Eastern Time) on Thursday August 8, 2024 to discuss its financial results. All interested parties are welcome to participate. You can access the conference call by dialing toll-free (888) 204-4368 approximately 5-10 minutes prior to the call. International callers should dial (646) 828-8193. All callers should reference conference ID #5158165 or PennantPark Floating R
MIAMI, July 02, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) declares its monthly distribution for July 2024 of $0.1025 per share, payable on August 1, 2024 to stockholders of record as of July 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 gains that m
MIAMI, June 04, 2024 (GLOBE NEWSWIRE) -- PennantPark Floating Rate Capital Ltd. (the "Company") (NYSE:PFLT) announced that as result of expanded lender partner relationships, it has upsized its credit facility, led by Truist Bank (the "Credit Facility") to $611 million from $436 million. Pricing on this facility remained unchanged at SOFR plus 236 basis points. "We are appreciative of the support from all of our existing lending partners and pleased to have expanded our relationships. Their support highlights the confidence they have in our excellent long term track record," said Arthur Penn, Chairman and Chief Executive Officer of PFLT. "This increased facility will expand our abil
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
PennantPark Floating Rate (NYSE:PFLT) reported quarterly earnings of $0.31 per share which missed the analyst consensus estimate of $0.32 by 3.13 percent. This is a 8.82 percent decrease over earnings of $0.34 per share from the same period last year. The company reported quarterly sales of $44.354 million which beat the analyst consensus estimate of $39.452 million by 12.42 percent. This is a 28.36 percent increase over sales of $34.554 million the same period last year.
JMP Securities analyst Kevin Fitzsimmons reiterates PennantPark Floating Rate (NYSE:PFLT) with a Market Outperform and maintains $12.5 price target.
Tuesday marks the last chance for investors to receive the next dividend payout from PennantPark Floating Rate (NYSE:PFLT). What's Happening The company announced on Friday that it would pay shareholders a monthly dividend of 10.25 cents per share. On Wednesday, PennantPark Floating Rate will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.25 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own PFLT as of the end of Tuesday's session are eligible to rec
PennantPark Floating Rate (NYSE:PFLT) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.31 by 6.45 percent. The company reported quarterly sales of $37.97 million which beat the analyst consensus estimate of $35.01 million by 8.46 percent. This is a 21.17 percent increase over sales of $31.34 million the same period last year.
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PennantPark Floating Rate's (NYSE:PFLT) short percent of float has fallen 31.9% since its last report. The company recently reported that it has 642 thousand shares sold short, which is 1.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.37 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Sh
JMP Securities analyst Kevin Fitzsimmons maintains PennantPark Floating Rate (NYSE:PFLT) with a Market Outperform and raises the price target from $12 to $12.5.
Thursday marks the last chance for investors to receive the next dividend payout from PennantPark Floating Rate (NYSE:PFLT). What's Happening The company announced on Wednesday that it would pay shareholders a monthly dividend of 10.25 cents per share. On Friday, PennantPark Floating Rate will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.25 cents lower than it would have opened on any other day. In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own PFLT as of the end of Thursday's session are eligible to rece
PennantPark Floating Rate's (NYSE:PFLT) short percent of float has risen 66.33% since its last report. The company recently reported that it has 945 thousand shares sold short, which is 1.63% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.94 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Sh