Marshall Wace LLP Decreases Stake in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Marshall Wace LLP reduced its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 79.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 124,751 shares of the asset manager’s stock after selling 493,376 shares during the period. Marshall Wace LLP owned approximately 0.15% of PennantPark Floating Rate Capital worth $1,364,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PFLT. Invesco Ltd. purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter worth $10,533,000. Strategic Financial Concepts LLC boosted its position in shares of PennantPark Floating Rate Capital by 1,080.4% during the 4th quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock worth $7,909,000 after purchasing an additional 662,266 shares in the last quarter. Sound Income Strategies LLC boosted its position in shares of PennantPark Floating Rate Capital by 12.0% during the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after purchasing an additional 356,781 shares in the last quarter. GraniteShares Advisors LLC purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter worth $2,457,000. Finally, Van ECK Associates Corp boosted its position in shares of PennantPark Floating Rate Capital by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 1,985,730 shares of the asset manager’s stock worth $21,704,000 after purchasing an additional 187,465 shares in the last quarter. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Trading Up 0.8 %

Shares of PFLT stock opened at $10.24 on Tuesday. The firm has a 50-day moving average price of $10.61 and a 200 day moving average price of $10.95. PennantPark Floating Rate Capital Ltd. has a twelve month low of $8.82 and a twelve month high of $12.02. The company has a market capitalization of $900.23 million, a price-to-earnings ratio of 7.31 and a beta of 1.30. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 12.02%. The ex-dividend date is Tuesday, April 15th. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

Analyst Ratings Changes

Several research firms have recently issued reports on PFLT. StockNews.com downgraded PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Sunday, April 20th. Keefe, Bruyette & Woods cut their price target on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a “market perform” rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group cut their price target on PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, PennantPark Floating Rate Capital currently has a consensus rating of “Hold” and a consensus price target of $11.38.

PennantPark Floating Rate Capital 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.