Brevan Howard Capital Management LP Buys Shares of 66,685 PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Brevan Howard Capital Management LP purchased a new position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 66,685 shares of the asset manager’s stock, valued at approximately $729,000. Brevan Howard Capital Management LP owned 0.08% of PennantPark Floating Rate Capital as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. NewEdge Wealth LLC grew its position in PennantPark Floating Rate Capital by 0.6% in the 4th quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock worth $3,152,000 after purchasing an additional 1,700 shares during the period. Bank of America Corp DE grew its holdings in shares of PennantPark Floating Rate Capital by 14.6% in the fourth quarter. Bank of America Corp DE now owns 14,880 shares of the asset manager’s stock worth $163,000 after acquiring an additional 1,891 shares during the period. Graypoint LLC increased its position in PennantPark Floating Rate Capital by 2.7% during the fourth quarter. Graypoint LLC now owns 71,156 shares of the asset manager’s stock valued at $778,000 after acquiring an additional 1,897 shares during the last quarter. Legal & General Group Plc lifted its holdings in PennantPark Floating Rate Capital by 0.4% in the fourth quarter. Legal & General Group Plc now owns 486,044 shares of the asset manager’s stock valued at $5,315,000 after acquiring an additional 2,081 shares during the period. Finally, PFG Investments LLC boosted its position in PennantPark Floating Rate Capital by 2.0% in the fourth quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock worth $1,171,000 after purchasing an additional 2,118 shares during the last quarter. 19.77% of the stock is owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Price Performance

NASDAQ PFLT opened at $10.08 on Friday. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. PennantPark Floating Rate Capital Ltd. has a 12 month low of $8.82 and a 12 month high of $12.02. The stock has a market cap of $886.16 million, a price-to-earnings ratio of 7.20 and a beta of 1.01. The company’s 50 day moving average is $10.42 and its two-hundred day moving average is $10.87.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 2nd. Investors of record on Thursday, May 15th will be paid a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 12.21%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 87.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group reduced their price target on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a “neutral” rating for the company in a research report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price target 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 report on Tuesday, April 8th. Finally, StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, PennantPark Floating Rate Capital has a consensus rating of “Hold” and an average target price of $11.38.

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.