Marshall Wace LLP Sells 5,736 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Marshall Wace LLP decreased its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,417 shares of the asset manager’s stock after selling 5,736 shares during the period. Marshall Wace LLP owned 0.05% of PennantPark Floating Rate Capital worth $397,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wedbush Securities Inc. boosted its holdings in shares of PennantPark Floating Rate Capital by 39.2% during the 2nd quarter. Wedbush Securities Inc. now owns 73,079 shares of the asset manager’s stock worth $843,000 after buying an additional 20,571 shares in the last quarter. PFG Investments LLC boosted its stake in PennantPark Floating Rate Capital by 3.0% during the second quarter. PFG Investments LLC now owns 104,886 shares of the asset manager’s stock worth $1,210,000 after acquiring an additional 3,051 shares in the last quarter. First Foundation Advisors acquired a new stake in PennantPark Floating Rate Capital in the second quarter worth $143,000. Strategic Financial Concepts LLC increased its stake 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 valued at $81,000 after purchasing an additional 642,706 shares in the last quarter. Finally, Graypoint LLC increased its stake in PennantPark Floating Rate Capital by 2.7% in the second quarter. Graypoint LLC now owns 67,415 shares of the asset manager’s stock valued at $778,000 after purchasing an additional 1,785 shares in the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Trading Up 0.9 %

PFLT opened at $11.69 on Friday. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $9.69 and a fifty-two week high of $12.63. The firm has a market capitalization of $780.05 million, a PE ratio of 7.90 and a beta of 1.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.22 and a quick ratio of 0.22. The company’s 50-day moving average is $11.30 and its 200 day moving average is $11.36.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings data on Wednesday, August 7th. The asset manager reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $48.51 million during the quarter, compared to analysts’ expectations of $47.63 million. PennantPark Floating Rate Capital had a return on equity of 10.99% and a net margin of 59.16%. During the same period last year, the company earned $0.36 earnings per share. As a group, research analysts predict that PennantPark Floating Rate Capital Ltd. will post 1.28 earnings per share for the current fiscal year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 10.52%. The ex-dividend date is Wednesday, October 16th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 83.11%.

Analysts Set New Price Targets

PFLT has been the subject of several research reports. Maxim Group upgraded PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Monday, August 12th. JMP Securities reduced their price objective on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating for the company in a research note on Tuesday, July 30th. Finally, StockNews.com lowered PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research 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.