Marshall Wace LLP Lowers Stock Position in PennantPark Floating Rate Capital Ltd. $PFLT

Marshall Wace LLP trimmed its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 16.8% during the second quarter, HoldingsChannel.com reports. The fund owned 1,439,742 shares of the asset manager’s stock after selling 289,775 shares during the period. Marshall Wace LLP’s holdings in PennantPark Floating Rate Capital were worth $14,873,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PFLT. Invesco Ltd. grew its position in PennantPark Floating Rate Capital by 2.5% during the 2nd quarter. Invesco Ltd. now owns 1,076,310 shares of the asset manager’s stock worth $11,118,000 after purchasing an additional 26,502 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of PennantPark Floating Rate Capital during the second quarter worth about $219,000. Lido Advisors LLC acquired a new stake in shares of PennantPark Floating Rate Capital during the second quarter worth about $171,000. Northwestern Mutual Wealth Management Co. acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at about $41,000. Finally, CreativeOne Wealth LLC acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at about $124,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Up 0.1%

Shares of PFLT stock opened at $9.54 on Wednesday. The business’s fifty day moving average price is $9.05 and its 200 day moving average price is $9.83. The firm has a market capitalization of $946.04 million, a PE ratio of 6.81 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. PennantPark Floating Rate Capital Ltd. has a 1-year low of $8.40 and a 1-year high of $11.50.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be issued a $0.1025 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.9%. The ex-dividend date is Monday, December 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 168.49%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and set a $10.50 target price on the stock in a research note on Monday, October 6th. UBS Group decreased their price target on PennantPark Floating Rate Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a report on Tuesday, October 14th. LADENBURG THALM/SH SH upgraded shares of PennantPark Floating Rate Capital to a “strong-buy” rating in a research report on Wednesday, August 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $11.00 target price on shares of PennantPark Floating Rate Capital in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.67.

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.