Balyasny Asset Management L.P. Raises Stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Balyasny Asset Management L.P. increased its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 57.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,507,513 shares of the asset manager's stock after buying an additional 549,905 shares during the period. Balyasny Asset Management L.P. owned 1.81% of PennantPark Floating Rate Capital worth $16,477,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in PennantPark Floating Rate Capital during the 3rd quarter worth approximately $39,000. Quarry LP raised its position in shares of PennantPark Floating Rate Capital by 190.2% during the 4th quarter. Quarry LP now owns 3,674 shares of the asset manager's stock valued at $40,000 after buying an additional 2,408 shares in the last quarter. Investment Partners LTD. purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $109,000. Sigma Planning Corp purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $119,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $131,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

PennantPark Floating Rate Capital Trading Down 0.9%

Shares of NASDAQ:PFLT traded down $0.09 on Tuesday, hitting $10.12. The company had a trading volume of 848,001 shares, compared to its average volume of 1,013,749. The firm's 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $10.84. PennantPark Floating Rate Capital Ltd. has a 1 year low of $8.82 and a 1 year high of $12.02. 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 firm has a market capitalization of $890.11 million, a price-to-earnings ratio of 7.23 and a beta of 1.01.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be given a $0.1025 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.23 annualized dividend and a dividend yield of 12.15%. PennantPark Floating Rate Capital's dividend payout ratio is 87.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PFLT. UBS Group cut their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods cut their price target on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 price target on the stock in a report on Tuesday. Finally, StockNews.com raised shares of PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.20.

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.