PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 716,775 shares of the asset manager’s stock after purchasing an additional 15,778 shares during the quarter. Two Sigma Advisers LP’s holdings in PennantPark Floating Rate Capital were worth $7,834,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Quarry LP increased its stake in shares of PennantPark Floating Rate Capital by 190.2% during the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock worth $40,000 after acquiring an additional 2,408 shares during the period. Investment Partners LTD. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth about $109,000. Sigma Planning Corp acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth about $119,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth about $131,000. Finally, Blue Trust Inc. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth about $136,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT opened at $10.09 on Friday. 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 company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 7.20 and a beta of 1.01. The company’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $10.78. PennantPark Floating Rate Capital Ltd. has a 1 year low of $8.82 and a 1 year high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 12.20%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Floating Rate Capital’s payout ratio is 136.67%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial reduced their price target on shares of PennantPark Floating Rate Capital from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Maxim Group set a $11.50 price target on shares of PennantPark Floating Rate Capital and gave the company a “buy” rating in a report on Wednesday, May 14th. LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital from a “neutral” rating to a “buy” rating and set a $10.50 price target on the stock in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Tuesday, May 13th. Finally, UBS Group reduced their price target on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating on the stock in a report on Thursday, April 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PennantPark Floating Rate Capital currently has an average rating of “Hold” and an average target price of $11.08.

Insider Activity at PennantPark Floating Rate Capital

In other news, Director Jose A. Briones acquired 9,840 shares of PennantPark Floating Rate Capital stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $10.15 per share, with a total value of $99,876.00. Following the completion of the purchase, the director now owns 329,438 shares of the company’s stock, valued at approximately $3,343,795.70. This represents a 3.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

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.