Millennium Management LLC Increases Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Millennium Management LLC raised its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 94.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 646,741 shares of the asset manager's stock after acquiring an additional 314,064 shares during the period. Millennium Management LLC owned approximately 0.78% of PennantPark Floating Rate Capital worth $7,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter valued at about $283,000. LPL Financial LLC increased its position in shares of PennantPark Floating Rate Capital by 20.4% during the 4th quarter. LPL Financial LLC now owns 432,287 shares of the asset manager's stock valued at $4,725,000 after purchasing an additional 73,365 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter valued at about $131,000. BNP Paribas Financial Markets increased its position in shares of PennantPark Floating Rate Capital by 1,455.3% during the 4th quarter. BNP Paribas Financial Markets now owns 20,219 shares of the asset manager's stock valued at $221,000 after purchasing an additional 18,919 shares during the last quarter. Finally, Invesco Ltd. bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter valued at about $10,533,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PFLT shares. LADENBURG THALM/SH SH upgraded PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 price objective on the stock in a research report on Tuesday, May 13th. Maxim Group set a $11.50 price objective on PennantPark Floating Rate Capital and gave the company a "buy" rating in a research report on Wednesday, May 14th. Keefe, Bruyette & Woods reduced their price objective on 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. UBS Group reduced their price target on PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen lowered PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $11.08.

PennantPark Floating Rate Capital Trading Up 0.6%

Shares of PFLT stock traded up $0.07 during trading hours on Friday, reaching $10.31. The company's stock had a trading volume of 1,152,166 shares, compared to its average volume of 1,004,226. The stock has a market capitalization of $1.02 billion, a P/E ratio of 7.36 and a beta of 1.01. PennantPark Floating Rate Capital Ltd. has a one year low of $8.82 and a one year high of $12.02. The firm's fifty day simple moving average is $10.12 and its 200 day simple moving average is $10.74. 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 firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 11.93%. PennantPark Floating Rate Capital's dividend payout ratio is currently 136.67%.

Insider Transactions at PennantPark Floating Rate Capital

In other PennantPark Floating Rate Capital news, Director Jose A. Briones acquired 9,840 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were purchased at an average cost of $10.15 per share, for a total transaction of $99,876.00. Following the transaction, the director now owns 329,438 shares in the company, valued at $3,343,795.70. This represents a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.00% of the company's stock.

PennantPark Floating Rate Capital Company 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.