Jane Street Group LLC Acquires 25,920 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Jane Street Group LLC grew its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 179.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 40,337 shares of the asset manager's stock after buying an additional 25,920 shares during the period. Jane Street Group LLC's holdings in PennantPark Floating Rate Capital were worth $441,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Invesco Ltd. acquired a new position in PennantPark Floating Rate Capital in the 4th quarter valued at approximately $10,533,000. Strategic Financial Concepts LLC grew its holdings in shares of PennantPark Floating Rate Capital by 1,080.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager's stock worth $7,909,000 after purchasing an additional 662,266 shares in the last quarter. GraniteShares Advisors LLC bought a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter valued at approximately $2,457,000. Van ECK Associates Corp raised its stake in shares of PennantPark Floating Rate Capital by 10.4% in the fourth quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager's stock valued at $21,704,000 after purchasing an additional 187,465 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in PennantPark Floating Rate Capital in the fourth quarter worth $1,046,000. Institutional investors and hedge funds own 19.77% of the company's stock.

PennantPark Floating Rate Capital Price Performance

Shares of PennantPark Floating Rate Capital stock traded up $0.02 during mid-day trading on Wednesday, reaching $10.23. 695,256 shares of the stock were exchanged, compared to its average volume of 1,006,759. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $8.82 and a fifty-two week high of $12.02. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 7.31 and a beta of 1.01. The firm has a 50-day simple moving average of $10.05 and a 200 day simple moving average of $10.73. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th will be issued a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 12.02%. The ex-dividend date is Monday, June 16th. PennantPark Floating Rate Capital's payout ratio is 136.67%.

Insider Transactions at PennantPark Floating Rate Capital

In other PennantPark Floating Rate Capital news, Director Jose A. Briones bought 9,840 shares of PennantPark Floating Rate Capital stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average cost of $10.15 per share, with a total value of $99,876.00. Following the acquisition, the director now directly owns 329,438 shares of the company's stock, valued at $3,343,795.70. The trade was a 3.08% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PFLT. Wall Street Zen downgraded shares of PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods decreased their target price on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Maxim Group set a $11.50 price target on shares of PennantPark Floating Rate Capital and gave the stock a "buy" rating in a research report on Wednesday, May 14th. LADENBURG THALM/SH SH upgraded shares of 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 note on Tuesday, May 13th. Finally, Truist Financial decreased their price objective on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. One research 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 data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.08.

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.