Altshuler Shaham Ltd Has $18.15 Million Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Altshuler Shaham Ltd lowered its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 9.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,573,156 shares of the asset manager’s stock after selling 156,930 shares during the period. PennantPark Floating Rate Capital accounts for approximately 0.6% of Altshuler Shaham Ltd’s portfolio, making the stock its 16th largest position. Altshuler Shaham Ltd owned 2.36% of PennantPark Floating Rate Capital worth $18,154,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PFLT. Sound Income Strategies LLC lifted its holdings in PennantPark Floating Rate Capital by 6.2% in the first quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager’s stock valued at $39,222,000 after buying an additional 200,250 shares during the period. Van ECK Associates Corp grew its stake in PennantPark Floating Rate Capital by 27.0% during the second quarter. Van ECK Associates Corp now owns 1,467,534 shares of the asset manager’s stock worth $16,936,000 after purchasing an additional 312,413 shares during the period. Strategic Financial Concepts LLC increased its holdings in PennantPark Floating Rate Capital by 1,151.8% in the second quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock worth $81,000 after purchasing an additional 642,706 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in PennantPark Floating Rate Capital by 4.2% in the first quarter. Advisors Asset Management Inc. now owns 282,549 shares of the asset manager’s stock valued at $3,215,000 after buying an additional 11,387 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC lifted its position in shares of PennantPark Floating Rate Capital by 8.5% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 226,174 shares of the asset manager’s stock valued at $2,574,000 after acquiring an additional 17,703 shares during the period. 19.77% of the stock is owned by institutional investors.

PennantPark Floating Rate Capital Stock Down 0.9 %

PFLT stock opened at $11.46 on Monday. The firm has a market capitalization of $764.70 million, a PE ratio of 7.74 and a beta of 1.68. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.60. PennantPark Floating Rate Capital Ltd. has a twelve month low of $9.69 and a twelve month high of $12.63. The stock’s 50 day moving average is $11.26 and its 200-day moving average is $11.34.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). PennantPark Floating Rate Capital had a net margin of 59.16% and a return on equity of 10.99%. The firm had revenue of $48.51 million for the quarter, compared to the consensus estimate of $47.63 million. During the same period in the previous year, the business earned $0.36 earnings per share. Sell-side analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.28 EPS for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.73%. The ex-dividend date is Monday, September 16th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 83.11%.

Analyst Upgrades and Downgrades

PFLT has been the topic of a number of research reports. Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Monday, August 12th. JMP Securities cut their target price on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th. Finally, StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

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.