PennantPark Floating Rate Capital Ltd. $PFLT Shares Acquired by Krilogy Financial LLC

by · The Cerbat Gem

Krilogy Financial LLC lifted its position in shares of PennantPark Floating Rate Capital Ltd. (NYSE:PFLT – Free Report) by 693.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,880 shares of the company’s stock after buying an additional 108,263 shares during the period. Krilogy Financial LLC’s holdings in PennantPark Floating Rate Capital were worth $1,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in PFLT. Marshall Wace LLP increased its holdings in shares of PennantPark Floating Rate Capital by 42.9% during the 3rd quarter. Marshall Wace LLP now owns 2,057,399 shares of the company’s stock worth $18,290,000 after buying an additional 617,657 shares during the last quarter. Millennium Management LLC increased its holdings in shares of PennantPark Floating Rate Capital by 85.0% during the 1st quarter. Millennium Management LLC now owns 1,196,752 shares of the company’s stock worth $13,392,000 after buying an additional 550,011 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of PennantPark Floating Rate Capital by 12.4% during the 4th quarter. Sound Income Strategies LLC now owns 4,643,958 shares of the company’s stock worth $44,257,000 after buying an additional 512,528 shares during the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of PennantPark Floating Rate Capital by 36.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,093,973 shares of the company’s stock worth $9,725,000 after buying an additional 295,157 shares during the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of PennantPark Floating Rate Capital by 692.7% during the 1st quarter. Jane Street Group LLC now owns 319,736 shares of the company’s stock worth $3,578,000 after buying an additional 279,399 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company’s stock.

Analyst Ratings Changes

PFLT has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Saturday, March 28th. Keefe, Bruyette & Woods cut their price target on shares of PennantPark Floating Rate Capital from $10.50 to $10.00 and set an “outperform” rating for the company in a report on Thursday, February 12th. Maxim Group set a $10.50 price objective on shares of PennantPark Floating Rate Capital in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, PennantPark Floating Rate Capital has an average rating of “Moderate Buy” and an average price target of $10.42.

Check Out Our Latest Stock Analysis on PFLT

PennantPark Floating Rate Capital Stock Performance

NYSE:PFLT opened at $8.70 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.15 and a current ratio of 0.15. The stock has a market capitalization of $863.21 million, a P/E ratio of 25.59 and a beta of 0.75. The company has a 50 day moving average price of $8.34 and a 200 day moving average price of $8.90. PennantPark Floating Rate Capital Ltd. has a fifty-two week low of $7.68 and a fifty-two week high of $10.88.

PennantPark Floating Rate Capital (NYSE:PFLT – Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.03). The company had revenue of $12.72 million for the quarter. PennantPark Floating Rate Capital had a return on equity of 9.72% and a net margin of 13.03%. Equities research analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.13 EPS for the current year.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 1st. Investors of record on Wednesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a c) dividend on an annualized basis and a dividend yield of 14.1%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 361.76%.

Insider Buying and Selling

In related news, Director Jose A. Briones acquired 5,895 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average price of $8.48 per share, with a total value of $49,989.60. Following the transaction, the director owned 342,313 shares of the company’s stock, valued at approximately $2,902,814.24. This trade represents a 1.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard T. Allorto, Jr. acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average cost of $8.15 per share, with a total value of $122,250.00. Following the transaction, the chief financial officer directly owned 25,000 shares in the company, valued at $203,750. This trade represents a 150.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.00% of the company’s stock.

About PennantPark Floating Rate Capital

(Free Report)

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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.

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