Janney Montgomery Scott LLC Decreases Stock Holdings in PennantPark Floating Rate Capital Ltd. $PFLT

Janney Montgomery Scott LLC trimmed its holdings in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 4.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,874 shares of the asset manager’s stock after selling 1,842 shares during the quarter. Janney Montgomery Scott LLC’s holdings in PennantPark Floating Rate Capital were worth $433,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PFLT. Scoggin Management LP purchased a new stake in PennantPark Floating Rate Capital in the first quarter worth $16,446,000. Millennium Management LLC grew its position in shares of PennantPark Floating Rate Capital by 85.0% in the first quarter. Millennium Management LLC now owns 1,196,752 shares of the asset manager’s stock valued at $13,392,000 after purchasing an additional 550,011 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of PennantPark Floating Rate Capital by 8.9% in the second quarter. Sound Income Strategies LLC now owns 3,904,625 shares of the asset manager’s stock valued at $40,335,000 after purchasing an additional 319,424 shares in the last quarter. Jane Street Group LLC grew its position in shares of PennantPark Floating Rate Capital by 692.7% in the first quarter. Jane Street Group LLC now owns 319,736 shares of the asset manager’s stock valued at $3,578,000 after purchasing an additional 279,399 shares in the last quarter. Finally, TrueMark Investments LLC grew its position in shares of PennantPark Floating Rate Capital by 735.7% in the first quarter. TrueMark Investments LLC now owns 310,616 shares of the asset manager’s stock valued at $3,476,000 after purchasing an additional 273,448 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Trading Up 1.2%

Shares of PFLT stock opened at $8.54 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $9.66 and a two-hundred day moving average price of $10.03. PennantPark Floating Rate Capital Ltd. has a 12-month low of $8.40 and a 12-month high of $11.90. The firm has a market cap of $846.83 million, a P/E ratio of 6.10 and a beta of 0.97.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently announced a oct 25 dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a $0.1025 dividend. This represents a dividend yield of 1,413.0%. The ex-dividend date of this dividend is Wednesday, October 15th. PennantPark Floating Rate Capital’s payout ratio is 146.43%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods upgraded PennantPark Floating Rate Capital from a “market perform” rating to an “outperform” rating and set a $10.50 price target for the company in a research report on Monday, October 6th. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of PennantPark Floating Rate Capital in a research report on Wednesday, September 3rd. UBS Group reduced their price target on PennantPark Floating Rate Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday. LADENBURG THALM/SH SH upgraded PennantPark Floating Rate Capital to a “strong-buy” rating in a research report on Wednesday, August 13th. Finally, Citigroup reiterated an “outperform” rating on shares of PennantPark Floating Rate Capital in a research report on Tuesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PennantPark Floating Rate Capital presently has an average rating of “Moderate Buy” and a consensus price target of $10.67.

About PennantPark Floating Rate Capital

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.