Marshall Wace LLP Cuts Stock Holdings in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Marshall Wace LLP lowered its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 79.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 124,751 shares of the asset manager’s stock after selling 493,376 shares during the period. Marshall Wace LLP’s holdings in PennantPark Floating Rate Capital were worth $1,364,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sound Income Strategies LLC raised its stake in PennantPark Floating Rate Capital by 12.0% during the fourth 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 during the period. JPMorgan Chase & Co. raised its stake in PennantPark Floating Rate Capital by 72.6% during the third quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock worth $2,913,000 after purchasing an additional 105,855 shares during the period. Raymond James Financial Inc. purchased a new position in PennantPark Floating Rate Capital during the fourth quarter worth approximately $283,000. LPL Financial LLC raised its stake in PennantPark Floating Rate Capital by 20.4% during the fourth quarter. LPL Financial LLC now owns 432,287 shares of the asset manager’s stock worth $4,725,000 after purchasing an additional 73,365 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in PennantPark Floating Rate Capital during the fourth quarter worth approximately $131,000. Hedge funds and other institutional investors own 19.77% of the company’s stock.

Analysts Set New Price Targets

PFLT has been the topic of a number of research reports. StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research note on Sunday, April 20th. UBS Group cut their target price on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. Finally, Keefe, Bruyette & Woods cut their target price on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.38.

PennantPark Floating Rate Capital Stock Performance

PennantPark Floating Rate Capital stock opened at $10.24 on Tuesday. PennantPark Floating Rate Capital Ltd. has a 12-month low of $8.82 and a 12-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 debt-to-equity ratio of 0.57, a current ratio of 0.15 and a quick ratio of 0.15. The firm’s fifty day moving average price is $10.61 and its 200 day moving average price is $10.95.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be paid a dividend of $0.1025 per share. 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 dividend payout ratio (DPR) is 87.86%.

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.