Two Sigma Investments LP Cuts Holdings in Pennantpark Floating Rate Capital Ltd (PFLT)

Two Sigma Investments LP decreased its holdings in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 35.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,965 shares of the asset manager’s stock after selling 5,896 shares during the quarter. Two Sigma Investments LP’s holdings in Pennantpark Floating Rate Capital were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PFLT. LGT Capital Partners LTD. lifted its holdings in Pennantpark Floating Rate Capital by 32.5% during the 4th quarter. LGT Capital Partners LTD. now owns 1,020,000 shares of the asset manager’s stock valued at $11,801,000 after purchasing an additional 250,000 shares during the last quarter. PFG Advisors bought a new position in Pennantpark Floating Rate Capital during the 4th quarter worth $1,794,000. West Family Investments Inc. increased its position in Pennantpark Floating Rate Capital by 42.1% during the 4th quarter. West Family Investments Inc. now owns 378,669 shares of the asset manager’s stock worth $4,385,000 after buying an additional 112,252 shares during the period. Roosevelt Investment Group Inc. bought a new position in Pennantpark Floating Rate Capital during the 4th quarter worth $1,072,000. Finally, Wiley BROS. Aintree Capital LLC bought a new position in Pennantpark Floating Rate Capital during the 4th quarter worth $693,000. 36.24% of the stock is owned by institutional investors and hedge funds.

PFLT stock opened at $12.98 on Wednesday. The firm has a market cap of $506.36 million, a price-to-earnings ratio of 12.25 and a beta of 0.71. Pennantpark Floating Rate Capital Ltd has a fifty-two week low of $11.05 and a fifty-two week high of $14.12.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings data on Wednesday, February 6th. The asset manager reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $23.18 million for the quarter, compared to analysts’ expectations of $22.06 million. Pennantpark Floating Rate Capital had a return on equity of 8.24% and a net margin of 45.40%. On average, sell-side analysts forecast that Pennantpark Floating Rate Capital Ltd will post 1.2 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 17th will be given a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a yield of 8.78%. The ex-dividend date is Tuesday, April 16th. Pennantpark Floating Rate Capital’s payout ratio is 71.70%.

Several research analysts have weighed in on PFLT shares. BidaskClub cut Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research report on Thursday, February 28th. Zacks Investment Research cut Pennantpark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Finally, Maxim Group reiterated a “buy” rating and set a $14.50 price objective on shares of Pennantpark Floating Rate Capital in a research report on Thursday, February 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $14.50.

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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.

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Institutional Ownership by Quarter for Pennantpark Floating Rate Capital (NASDAQ:PFLT)

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