PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Stock Holdings Decreased by Two Sigma Investments LP

Two Sigma Investments LP reduced its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,106,128 shares of the asset manager's stock after selling 248,248 shares during the period. 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. NewEdge Wealth LLC increased its holdings in PennantPark Floating Rate Capital by 0.6% in the fourth quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager's stock valued at $3,152,000 after buying an additional 1,700 shares during the last quarter. Bank of America Corp DE raised its position in shares of 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 valued at $163,000 after acquiring an additional 1,891 shares in the last quarter. Legal & General Group Plc lifted its stake in PennantPark Floating Rate Capital by 0.4% during the fourth quarter. Legal & General Group Plc now owns 486,044 shares of the asset manager's stock worth $5,315,000 after purchasing an additional 2,081 shares during the last quarter. PFG Investments LLC boosted its holdings in PennantPark Floating Rate Capital by 2.0% in the fourth quarter. PFG Investments LLC now owns 107,180 shares of the asset manager's stock worth $1,171,000 after purchasing an additional 2,118 shares during the period. Finally, Tidal Investments LLC increased its stake in PennantPark Floating Rate Capital by 2.3% during the fourth quarter. Tidal Investments LLC now owns 103,334 shares of the asset manager's stock valued at $1,129,000 after purchasing an additional 2,322 shares during the last quarter. 19.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFLT has been the topic of a number of recent research reports. UBS Group reduced their price target on shares of 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. Maxim Group set a $11.50 target price on PennantPark Floating Rate Capital and gave the company a "buy" rating in a research note on Wednesday, May 14th. Keefe, Bruyette & Woods lowered their target price on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Truist Financial cut their price target 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. 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 issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $11.08.

Insider Activity

In other news, Director Jose A. Briones bought 9,840 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were purchased at an average price of $10.15 per share, with a total value of $99,876.00. Following the completion of the acquisition, the director now directly owns 329,438 shares in the company, valued at approximately $3,343,795.70. This trade represents a 3.08% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

PennantPark Floating Rate Capital Price Performance

PFLT stock traded down $0.00 during trading on Wednesday, hitting $10.23. The company had a trading volume of 616,718 shares, compared to its average volume of 999,176. The business has a 50 day moving average of $10.18 and a 200 day moving average of $10.76. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 7.31 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 fifty-two week low of $8.82 and a fifty-two week high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 12.03%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Floating Rate Capital's dividend payout ratio is currently 136.67%.

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.