Pennantpark Floating Rate Capital Ltd (PFLT) Shares Sold by Millennium Management LLC

Millennium Management LLC reduced its position in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 25.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,245 shares of the asset manager’s stock after selling 5,316 shares during the quarter. Millennium Management LLC’s holdings in Pennantpark Floating Rate Capital were worth $176,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PFLT. Flagship Harbor Advisors LLC bought a new stake in Pennantpark Floating Rate Capital in the fourth quarter valued at about $48,000. Stephens Inc. AR bought a new stake in Pennantpark Floating Rate Capital in the fourth quarter valued at about $127,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Pennantpark Floating Rate Capital by 7.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,792 shares of the asset manager’s stock valued at $252,000 after buying an additional 1,590 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Pennantpark Floating Rate Capital by 11.5% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 27,840 shares of the asset manager’s stock valued at $322,000 after buying an additional 2,881 shares during the last quarter. Finally, Standard Life Aberdeen plc increased its holdings in Pennantpark Floating Rate Capital by 47.3% in the fourth quarter. Standard Life Aberdeen plc now owns 31,138 shares of the asset manager’s stock valued at $366,000 after buying an additional 10,000 shares during the last quarter. 36.49% of the stock is owned by hedge funds and other institutional investors.

Shares of PFLT stock opened at $12.04 on Wednesday. Pennantpark Floating Rate Capital Ltd has a 52 week low of $11.05 and a 52 week high of $14.12. The company has a market capitalization of $465.27 million, a price-to-earnings ratio of 11.36 and a beta of 0.72.



Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, May 8th. The asset manager reported $0.30 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.30. Pennantpark Floating Rate Capital had a return on equity of 8.72% and a net margin of 17.80%. The company had revenue of $23.01 million during the quarter, compared to the consensus estimate of $22.99 million. Equities research analysts predict that Pennantpark Floating Rate Capital Ltd will post 1.2 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $0.095 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.14 dividend on an annualized basis and a yield of 9.47%. Pennantpark Floating Rate Capital’s payout ratio is currently 71.70%.

Several analysts recently weighed in on PFLT shares. BidaskClub upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, January 16th. Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, February 12th. Maxim Group restated a “buy” rating and issued a $14.50 target price on shares of Pennantpark Floating Rate Capital in a research note on Thursday, February 7th. Finally, Keefe, Bruyette & Woods downgraded Pennantpark Floating Rate Capital from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $14.00 to $13.00 in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. Pennantpark Floating Rate Capital has a consensus rating of “Hold” and a consensus target price of $14.13.

In related news, insider Arthur H. Penn bought 9,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was bought at an average cost of $12.15 per share, for a total transaction of $109,350.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arthur H. Penn bought 7,000 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was bought at an average price of $12.10 per share, with a total value of $84,700.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 36,100 shares of company stock valued at $437,470. 1.00% of the stock is currently owned by insiders.

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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.

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

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