XTX Topco Ltd Makes New Investment in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

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 purchased a new stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 87,356 shares of the asset manager's stock, valued at approximately $978,000. XTX Topco Ltd owned 0.10% of PennantPark Floating Rate Capital as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 8.0% in the first 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 last quarter. Balyasny Asset Management L.P. raised its position in PennantPark Floating Rate Capital by 57.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,507,513 shares of the asset manager's stock worth $16,477,000 after acquiring an additional 549,905 shares during the period. Invesco Ltd. purchased a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth $10,533,000. Two Sigma Advisers LP grew its position in shares of PennantPark Floating Rate Capital by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 716,775 shares of the asset manager's stock valued at $7,834,000 after acquiring an additional 15,778 shares during the period. Finally, Millennium Management LLC grew its position in shares of PennantPark Floating Rate Capital by 94.4% during the 4th quarter. Millennium Management LLC now owns 646,741 shares of the asset manager's stock valued at $7,069,000 after acquiring an additional 314,064 shares during the period. Hedge funds and other institutional investors own 19.77% of the company's stock.

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 stock was bought at an average cost of $10.15 per share, with a total value of $99,876.00. Following the completion of the purchase, the director owned 329,438 shares of the company's stock, valued at approximately $3,343,795.70. The trade was a 3.08% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PFLT shares. Wall Street Zen cut PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. JMP Securities lowered their price objective on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "market outperform" rating on the stock in a research report on Tuesday, June 24th. 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. UBS Group raised 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. Finally, Keefe, Bruyette & Woods lowered their price target on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.96.

PennantPark Floating Rate Capital Stock Down 0.6%

Shares of PFLT opened at $10.41 on Friday. The business's 50 day moving average is $10.44 and its 200 day moving average is $10.58. 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 $11.90. The company has a market capitalization of $1.03 billion, a PE ratio of 7.43 and a beta of 0.95.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th were issued a $0.1025 dividend. This represents a c) annualized dividend and a dividend yield of 11.8%. The ex-dividend date of this dividend was Tuesday, July 15th. PennantPark Floating Rate Capital's payout ratio is 136.67%.

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.

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