Marshall Wace LLP Cuts Position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Marshall Wace LLP reduced its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 79.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 124,751 shares of the asset manager's stock after selling 493,376 shares during the quarter. Marshall Wace LLP owned approximately 0.15% of PennantPark Floating Rate Capital worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFLT. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth approximately $39,000. Tidal Investments LLC increased its position in PennantPark Floating Rate Capital by 7.4% during the third quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager's stock worth $1,169,000 after buying an additional 6,966 shares in the last quarter. JPMorgan Chase & Co. increased its position in PennantPark Floating Rate Capital by 72.6% during the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager's stock worth $2,913,000 after buying an additional 105,855 shares in the last quarter. Graypoint LLC raised its holdings in shares of PennantPark Floating Rate Capital by 2.7% in the fourth quarter. Graypoint LLC now owns 71,156 shares of the asset manager's stock worth $778,000 after acquiring an additional 1,897 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its position in shares of PennantPark Floating Rate Capital by 12.0% in the fourth quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager's stock valued at $36,288,000 after acquiring an additional 356,781 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company's stock.

PennantPark Floating Rate Capital Trading Up 2.0 %

PFLT traded up $0.20 during midday trading on Friday, hitting $10.17. The company's stock had a trading volume of 945,160 shares, compared to its average volume of 1,018,505. PennantPark Floating Rate Capital Ltd. has a 52-week low of $8.82 and a 52-week high of $12.02. The firm has a 50-day moving average price of $10.51 and a two-hundred day moving average price of $10.91. 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 market cap of $894.07 million, a P/E ratio of 7.26 and a beta of 1.30.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a monthly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a $0.1025 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a yield of 12.10%. PennantPark Floating Rate Capital's payout ratio is 87.86%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PFLT shares. UBS Group cut their target price on shares of 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. Keefe, Bruyette & Woods cut their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com downgraded shares of PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research note on Sunday, April 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $11.38.

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.