Muzinich & Co. Inc. Has $1.52 Million Holdings in PennantPark Floating Rate Capital Ltd. $PFLT

Muzinich & Co. Inc. boosted its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 62.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 170,836 shares of the asset manager’s stock after acquiring an additional 65,977 shares during the period. PennantPark Floating Rate Capital comprises 0.6% of Muzinich & Co. Inc.’s holdings, making the stock its 23rd biggest position. Muzinich & Co. Inc.’s holdings in PennantPark Floating Rate Capital were worth $1,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Trexquant Investment LP raised its holdings in PennantPark Floating Rate Capital by 11.5% in the 1st quarter. Trexquant Investment LP now owns 416,710 shares of the asset manager’s stock valued at $4,663,000 after buying an additional 43,097 shares during the last quarter. Scoggin Management LP acquired a new stake in PennantPark Floating Rate Capital in the first quarter valued at approximately $16,446,000. Advisors Asset Management Inc. raised its position in shares of PennantPark Floating Rate Capital by 6.1% during the first quarter. Advisors Asset Management Inc. now owns 331,123 shares of the asset manager’s stock worth $3,705,000 after purchasing an additional 18,963 shares during the period. Millennium Management LLC grew its position in PennantPark Floating Rate Capital by 85.0% in the 1st quarter. Millennium Management LLC now owns 1,196,752 shares of the asset manager’s stock valued at $13,392,000 after purchasing an additional 550,011 shares during the period. Finally, Jane Street Group LLC increased its stake in PennantPark Floating Rate Capital by 692.7% during the 1st quarter. Jane Street Group LLC now owns 319,736 shares of the asset manager’s stock valued at $3,578,000 after purchasing an additional 279,399 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Trading Down 0.5%

NASDAQ:PFLT opened at $9.11 on Tuesday. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.40 and a 52 week high of $11.50. The firm has a 50-day moving average price of $9.18 and a two-hundred day moving average price of $9.72. The firm has a market cap of $903.38 million, a price-to-earnings ratio of 6.50 and a beta of 0.75. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 13.5%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 168.49%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PFLT shares. UBS Group reduced their price objective on shares of 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. JMP Securities reissued a “market outperform” rating and issued a $11.00 price objective on shares of PennantPark Floating Rate Capital in a research note on Wednesday, September 3rd. Finally, Keefe, Bruyette & Woods raised 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 report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, PennantPark Floating Rate Capital currently has a consensus rating of “Buy” and an average target price of $10.67.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital, Inc (NASDAQ: PFLT) is a closed-end management investment company organized as a business development company (BDC) under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, secondarily, capital appreciation for its shareholders through debt and equity investments in middle-market companies. PennantPark Floating Rate Capital focuses on floating-rate instruments to help mitigate interest-rate risk and align cash flows with its dividend strategy.

The company’s portfolio is concentrated in senior secured loans, second-lien debt, mezzanine securities and, from time to time, equity investments.