Altshuler Shaham Ltd Has $8.28 Million Holdings in PennantPark Floating Rate Capital Ltd. $PFLT

Altshuler Shaham Ltd decreased its position in shares of PennantPark Floating Rate Capital Ltd. (NYSE:PFLT - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,029,172 shares of the company's stock after selling 290,984 shares during the quarter. Altshuler Shaham Ltd owned about 1.04% of PennantPark Floating Rate Capital worth $8,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its position in shares of PennantPark Floating Rate Capital by 85.0% during the first quarter. Millennium Management LLC now owns 1,196,752 shares of the company's stock worth $13,392,000 after buying an additional 550,011 shares during the period. Jane Street Group LLC raised its position in shares of PennantPark Floating Rate Capital by 692.7% in the 1st quarter. Jane Street Group LLC now owns 319,736 shares of the company's stock worth $3,578,000 after acquiring an additional 279,399 shares in the last quarter. Cetera Investment Advisers raised its position in shares of PennantPark Floating Rate Capital by 2.1% in the 2nd quarter. Cetera Investment Advisers now owns 63,704 shares of the company's stock worth $658,000 after acquiring an additional 1,329 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at about $41,000. Finally, Quantbot Technologies LP acquired a new position in shares of PennantPark Floating Rate Capital in the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 19.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial decreased their target price on PennantPark Floating Rate Capital from $10.00 to $9.00 and set a "buy" rating for the company in a research note on Tuesday, May 19th. Weiss Ratings restated a "hold (c-)" rating on shares of PennantPark Floating Rate Capital in a report on Friday, May 8th. Citizens Jmp reduced their price objective on shares of PennantPark Floating Rate Capital from $11.00 to $10.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 22nd. Finally, Zacks Research upgraded shares of PennantPark Floating Rate Capital from a "strong sell" rating to a "hold" rating in a research note on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $9.80.

PennantPark Floating Rate Capital Stock Up 1.9%

Shares of NYSE PFLT opened at $7.11 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.18 and a quick ratio of 0.18. The company has a 50-day moving average price of $7.59 and a 200-day moving average price of $8.32. The stock has a market capitalization of $704.96 million, a P/E ratio of 11.46 and a beta of 0.76. PennantPark Floating Rate Capital Ltd. has a 1 year low of $6.83 and a 1 year high of $10.66.

PennantPark Floating Rate Capital (NYSE:PFLT - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $44.81 million during the quarter. PennantPark Floating Rate Capital had a net margin of 23.08% and a return on equity of 9.95%. On average, equities research analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.08 EPS for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a special dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a dividend of $0.0033 per share. The ex-dividend date is Wednesday, July 15th. This represents a yield of 55.0%. PennantPark Floating Rate Capital's dividend payout ratio is 154.84%.

Insider Transactions at PennantPark Floating Rate Capital

In related news, Director Jose A. Briones purchased 5,770 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $8.67 per share, with a total value of $50,025.90. Following the transaction, the director owned 348,083 shares of the company's stock, valued at $3,017,879.61. This represents a 1.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company's stock.

About PennantPark Floating Rate Capital

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.

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