Altshuler Shaham Ltd owns $18.15 million in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Altshuler Shaham Ltd lessened its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Free Report) by 9.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,573,156 shares of the asset manager’s stock after selling 156,930 shares during the period. PennantPark Floating Rate Capital makes up approximately 0.6% of Altshuler Shaham Ltd’s portfolio, making the stock its 16th largest position. Altshuler Shaham Ltd owned 2.36% of PennantPark Floating Rate Capital worth $18,154,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PFLT. Sound Income Strategies LLC boosted its holdings in PennantPark Floating Rate Capital by 6.2% in the first quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager’s stock valued at $39,222,000 after purchasing an additional 200,250 shares during the period. Van ECK Associates Corp raised its stake in PennantPark Floating Rate Capital by 27.0% in the second quarter. Van ECK Associates Corp now owns 1,467,534 shares of the asset manager’s stock worth $16,936,000 after buying an additional 312,413 shares during the period. Strategic Financial Concepts LLC boosted its holdings in PennantPark Floating Rate Capital by 1,151.8% in the second quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock worth $81,000 after purchasing an additional 642,706 shares during the last quarter. Advisors Asset Management Inc. raised its stake in PennantPark Floating Rate Capital by 4.2% in the first quarter. Advisors Asset Management Inc. now owns 282,549 shares of the asset manager’s stock valued at $3,215,000 after buying an additional 11,387 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC lifted its position in shares of PennantPark Floating Rate Capital by 8.5% in the first quarter. Prevail Innovative Wealth Advisors LLC now owns 226,174 shares of the asset manager’s stock valued at $2,574,000 after acquiring an additional 17,703 shares during the period. 19.77% of shares are owned by institutional investors.

PennantPark Floating Rate Capital fell 0.9%

Shares of PFLT stock opened at $11.46 on Monday. The firm has a market cap of $764.70 million, a PE ratio of 7.74 and a beta of 1.68. The company has a quick ratio of 0.22, a current ratio of 0.22, and a debt-to-equity ratio of 0.60. PennantPark Floating Rate Capital Ltd. has a 12-month low of $9.69 and a 12-month high of $12.63. The stock’s 50-day moving average is $11.26 and its 200-day moving average is $11.34.

PennantPark Floating Rate Capital (NASDAQ:PFLT – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, August 7th. The asset manager reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). PennantPark Floating Rate Capital had a net margin of 59.16% and a return on equity of 10.99%. The firm had revenue of $48.51 million for the quarter, compared to the consensus estimate of $47.63 million. In the same period last year, the company earned $0.36 per share. sell-side analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.28 EPS for the current fiscal year.

PennantPark Variable Rate Capital Dividend Notice

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 16th will be issued a $0.1025 dividend. This represents a dividend of $1.23 on an annualized basis and a dividend yield of 10.73%. The ex-dividend date is Monday, September 16. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 83.11%.

Analyst upgrades and downgrades

PFLT has been the subject of a number of research reports. Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, August 12th. JMP Securities cut their price target on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th. Finally, StockNews.com downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

Get our latest analysis on PFLT

PennantPark Floating Rate Capital Company Profile

(Free Report)

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make direct secondary investments, debt, equity and loans. The fund seeks to invest through floating rate loans in private or publicly traded small or small market capitalization public middle market companies. It invests primarily in the United States and, to a limited extent, outside the United States

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