Brevan Howard Capital Management LP bought a new position in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 66,685 shares of the asset manager's stock, valued at approximately $729,000. Brevan Howard Capital Management LP owned approximately 0.08% of PennantPark Floating Rate Capital as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NewEdge Wealth LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 0.6% in the 4th quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager's stock worth $3,152,000 after purchasing an additional 1,700 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of PennantPark Floating Rate Capital by 14.6% in the 4th quarter. Bank of America Corp DE now owns 14,880 shares of the asset manager's stock valued at $163,000 after acquiring an additional 1,891 shares during the last quarter. Graypoint LLC lifted its stake in shares of PennantPark Floating Rate Capital by 2.7% in the 4th quarter. Graypoint LLC now owns 71,156 shares of the asset manager's stock valued at $778,000 after acquiring an additional 1,897 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of PennantPark Floating Rate Capital by 0.4% in the 4th quarter. Legal & General Group Plc now owns 486,044 shares of the asset manager's stock valued at $5,315,000 after acquiring an additional 2,081 shares during the last quarter. Finally, PFG Investments LLC lifted its stake in shares of PennantPark Floating Rate Capital by 2.0% in the 4th quarter. PFG Investments LLC now owns 107,180 shares of the asset manager's stock valued at $1,171,000 after acquiring an additional 2,118 shares during the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.
PennantPark Floating Rate Capital Price Performance
PFLT stock remained flat at $10.13 on Wednesday. The company had a trading volume of 613,858 shares, compared to its average volume of 1,350,989. PennantPark Floating Rate Capital Ltd. has a one year low of $8.82 and a one year high of $12.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The company has a market cap of $890.99 million, a P/E ratio of 7.24 and a beta of 1.01. The firm's 50 day simple moving average is $10.36 and its two-hundred day simple moving average is $10.84.
PennantPark Floating Rate Capital Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.1025 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.23 annualized dividend and a yield of 12.14%. PennantPark Floating Rate Capital's dividend payout ratio is 87.86%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on PFLT. Truist Financial lowered their target price on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday. LADENBURG THALM/SH SH raised PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 price target for the company in a research report on Tuesday. StockNews.com lowered PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price target on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, UBS Group lowered their target price on 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $11.08.
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About PennantPark Floating Rate Capital
(
Free Report)
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.
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