Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) Short Interest Down 11.0% in October

Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) was the target of a significant decline in short interest in October. As of October 31st, there was short interest totalling 186,600 shares, a decline of 11.0% from the September 30th total of 209,700 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 124,400 shares, the short-interest ratio is currently 1.5 days.

Shares of PFLT stock traded up $0.02 during trading hours on Monday, hitting $11.67. The stock had a trading volume of 137,000 shares, compared to its average volume of 139,932. Pennantpark Floating Rate Capital has a one year low of $11.05 and a one year high of $13.42. The stock’s 50-day moving average price is $11.53 and its two-hundred day moving average price is $11.70. The stock has a market capitalization of $452.08 million, a price-to-earnings ratio of 11.01 and a beta of 0.72.

The company also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.14 annualized dividend and a dividend yield of 9.77%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 107.55%.

Several brokerages have recently issued reports on PFLT. Zacks Investment Research raised Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. BidaskClub raised Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. ValuEngine raised Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, JMP Securities reduced their target price on Pennantpark Floating Rate Capital from $13.50 to $13.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $13.38.

In other Pennantpark Floating Rate Capital news, Director Samuel L. Katz acquired 25,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $11.42 per share, for a total transaction of $285,500.00. Following the completion of the transaction, the director now directly owns 191,800 shares of the company’s stock, valued at $2,190,356. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Altshuler Shaham Ltd increased its stake in Pennantpark Floating Rate Capital by 1.1% during the second quarter. Altshuler Shaham Ltd now owns 1,891,245 shares of the asset manager’s stock worth $22,492,000 after acquiring an additional 21,033 shares during the last quarter. Sound Income Strategies LLC increased its stake in Pennantpark Floating Rate Capital by 16.9% during the third quarter. Sound Income Strategies LLC now owns 1,869,117 shares of the asset manager’s stock worth $21,682,000 after acquiring an additional 270,417 shares during the last quarter. LGT Capital Partners LTD. increased its stake in Pennantpark Floating Rate Capital by 2.1% during the second quarter. LGT Capital Partners LTD. now owns 1,120,000 shares of the asset manager’s stock worth $12,947,000 after acquiring an additional 23,209 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Pennantpark Floating Rate Capital by 1.0% during the second quarter. Janney Montgomery Scott LLC now owns 445,693 shares of the asset manager’s stock worth $5,152,000 after acquiring an additional 4,554 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Pennantpark Floating Rate Capital by 10.1% during the second quarter. Van ECK Associates Corp now owns 363,616 shares of the asset manager’s stock worth $4,203,000 after acquiring an additional 33,463 shares during the last quarter. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.

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