Two Sigma Investments LP reduced its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 18.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,106,128 shares of the asset manager's stock after selling 248,248 shares during the quarter. Two Sigma Investments LP owned about 1.33% of PennantPark Floating Rate Capital worth $12,090,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Quarry LP increased its holdings in PennantPark Floating Rate Capital by 190.2% in the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager's stock worth $40,000 after purchasing an additional 2,408 shares in the last quarter. Investment Partners LTD. bought a new stake in PennantPark Floating Rate Capital in the fourth quarter worth approximately $109,000. Sigma Planning Corp bought a new stake in PennantPark Floating Rate Capital in the fourth quarter worth approximately $119,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in PennantPark Floating Rate Capital in the fourth quarter valued at approximately $131,000. Finally, Blue Trust Inc. acquired a new stake in PennantPark Floating Rate Capital in the fourth quarter valued at approximately $136,000. 19.77% of the stock is currently owned by institutional investors.
PennantPark Floating Rate Capital Stock Up 0.2%
Shares of NASDAQ:PFLT traded up $0.03 during mid-day trading on Thursday, hitting $10.26. 208,718 shares of the company traded hands, compared to its average volume of 994,694. The stock has a market cap of $1.02 billion, a P/E ratio of 7.33 and a beta of 1.01. 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 Ltd. has a 12-month low of $8.82 and a 12-month high of $12.02. The stock has a 50-day moving average price of $10.16 and a two-hundred day moving average price of $10.76.
PennantPark Floating Rate Capital Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be given 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 dividend yield of 11.99%. PennantPark Floating Rate Capital's payout ratio is 136.67%.
Insider Activity at PennantPark Floating Rate Capital
In related news, Director Jose A. Briones bought 9,840 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were bought at an average price of $10.15 per share, with a total value of $99,876.00. Following the completion of the transaction, the director now directly owns 329,438 shares in the company, valued at approximately $3,343,795.70. This represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of brokerages have commented on PFLT. LADENBURG THALM/SH SH raised PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 price objective for the company in a research note on Tuesday, May 13th. Keefe, Bruyette & Woods reduced their price objective on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a research note on Tuesday, April 8th. UBS Group reduced their price objective 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. Maxim Group set a $11.50 price objective on PennantPark Floating Rate Capital and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Wall Street Zen cut PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. One 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 MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $11.08.
Get Our Latest Stock Analysis on PFLT
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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