Trexquant Investment LP Boosts Holdings in PennantPark Floating Rate Capital Ltd. $PFLT

Key Points

• Trexquant Investment LP increased its holdings in PennantPark Floating Rate Capital Ltd. by 11.5%, now owning approximately 0.47% of the company, valued at $4.66 million.
• PennantPark recently announced a quarterly dividend of $0.1025 per share, with a dividend yield of 4.0% and a payout ratio of 146.43%.
• Analysts have mixed views on the stock, with target price adjustments and ratings varying from "strong buy" to "sell," leading to a consensus rating of "Moderate Buy" with a target price of $10.88.

Trexquant Investment LP increased its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 416,710 shares of the asset manager's stock after buying an additional 43,097 shares during the period. Trexquant Investment LP owned about 0.47% of PennantPark Floating Rate Capital worth $4,663,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its stake in PennantPark Floating Rate Capital by 17.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,048 shares of the asset manager's stock worth $661,000 after buying an additional 8,830 shares during the period. Sound Income Strategies LLC increased its stake in PennantPark Floating Rate Capital by 8.0% during the 1st quarter. Sound Income Strategies LLC now owns 3,585,201 shares of the asset manager's stock worth $40,118,000 after buying an additional 265,162 shares during the period. Janney Montgomery Scott LLC increased its stake in PennantPark Floating Rate Capital by 6.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,716 shares of the asset manager's stock worth $489,000 after buying an additional 2,579 shares during the period. Bank of America Corp DE increased its stake in PennantPark Floating Rate Capital by 14.6% during the 4th quarter. Bank of America Corp DE now owns 14,880 shares of the asset manager's stock worth $163,000 after buying an additional 1,891 shares during the period. Finally, D. E. Shaw & Co. Inc. increased its stake in PennantPark Floating Rate Capital by 199.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 30,558 shares of the asset manager's stock worth $334,000 after buying an additional 20,345 shares during the period. 19.77% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Stock Down 0.3%

Shares of NASDAQ PFLT traded down $0.04 during mid-day trading on Friday, reaching $10.25. The company had a trading volume of 690,780 shares, compared to its average volume of 1,098,438. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The firm has a 50 day simple moving average of $10.44 and a two-hundred day simple moving average of $10.43. The stock has a market cap of $1.02 billion, a P/E ratio of 7.32 and a beta of 0.98. PennantPark Floating Rate Capital Ltd. has a 52-week low of $8.82 and a 52-week high of $11.90.

PennantPark Floating Rate Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be given a $0.1025 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%. The ex-dividend date of this dividend is Monday, September 15th. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is 146.43%.

Analysts Set New Price Targets

PFLT has been the topic of several recent research reports. Truist Financial cut their target price on shares of PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. 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. UBS Group upped their target price on shares of PennantPark Floating Rate Capital from $10.50 to $10.75 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital to a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, Maxim Group set a $11.50 price objective on shares of PennantPark Floating Rate Capital and gave the company a "buy" rating in a research report on Wednesday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, PennantPark Floating Rate Capital has an average rating of "Moderate Buy" and a consensus price target of $10.88.

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.