87,356 Shares in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd purchased 87,356 shares of PennantPark Floating Rate Capital, valued at approximately $978,000, increasing its ownership to 0.10% as per its latest SEC filing.
• Insider activity saw Director Jose A. Briones acquire 9,840 shares at $10.15 each, raising his stake in the company to 329,438 shares, valued at around $3.34 million.
• Analysts are divided on PennantPark Floating Rate Capital, with ratings ranging from "sell" to "buy," and a consensus price target of $10.96 noted, reflecting a cautious outlook.

XTX Topco Ltd acquired a new stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 87,356 shares of the asset manager's stock, valued at approximately $978,000. XTX Topco Ltd owned about 0.10% of PennantPark Floating Rate Capital as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter valued at about $283,000. Commonwealth Equity Services LLC grew its holdings in PennantPark Floating Rate Capital by 10.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 40,826 shares of the asset manager's stock valued at $446,000 after buying an additional 3,782 shares in the last quarter. LPL Financial LLC grew its position in PennantPark Floating Rate Capital by 20.4% during the fourth quarter. LPL Financial LLC now owns 432,287 shares of the asset manager's stock worth $4,725,000 after buying an additional 73,365 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $140,000. Finally, Wedbush Securities Inc. boosted its holdings in shares of PennantPark Floating Rate Capital by 5.3% during the 4th quarter. Wedbush Securities Inc. now owns 127,492 shares of the asset manager's stock valued at $1,393,000 after acquiring an additional 6,382 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PFLT shares. Maxim Group set a $11.50 price target on PennantPark Floating Rate Capital and gave the company a "buy" rating in a research note on Wednesday, May 14th. Truist Financial decreased their price target on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Citigroup reiterated an "outperform" rating on shares of PennantPark Floating Rate Capital in a research report on Tuesday, June 24th. JMP Securities dropped their price objective on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "market outperform" rating for the company in a research note on Tuesday, June 24th. Finally, Wall Street Zen lowered PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $10.96.

PennantPark Floating Rate Capital Stock Down 1.1%

Shares of PFLT traded down $0.12 during mid-day trading on Thursday, reaching $10.39. The company had a trading volume of 621,547 shares, compared to its average volume of 1,126,043. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a 50-day moving average price of $10.45 and a 200 day moving average price of $10.57. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.82 and a 52 week high of $11.90. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 7.41 and a beta of 0.97.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.41 annualized dividend and a yield of 3.9%. PennantPark Floating Rate Capital's dividend payout ratio is 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 stock in a transaction that occurred on 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 transaction, the director owned 329,438 shares of the company's stock, valued at $3,343,795.70. The trade was a 3.08% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company's stock.

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.