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

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

In related news, Director Samuel L. Katz acquired 25,000 shares of Pennantpark Floating Rate Capital stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average price of $11.42 per share, with a total value of $285,500.00. Following the transaction, the director now directly owns 191,800 shares in the company, valued at $2,190,356. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of PFLT. Sound Income Strategies LLC increased its holdings in shares of Pennantpark Floating Rate Capital by 36.3% in the 2nd quarter. Sound Income Strategies LLC now owns 1,598,700 shares of the asset manager’s stock worth $18,481,000 after purchasing an additional 426,133 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth $3,335,000. Acadian Asset Management LLC boosted its stake in shares of Pennantpark Floating Rate Capital by 164.6% in the 2nd quarter. Acadian Asset Management LLC now owns 92,923 shares of the asset manager’s stock worth $1,073,000 after buying an additional 57,806 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth $578,000. Finally, Susquehanna International Group LLP boosted its stake in shares of Pennantpark Floating Rate Capital by 118.5% in the 2nd quarter. Susquehanna International Group LLP now owns 82,653 shares of the asset manager’s stock worth $955,000 after buying an additional 44,825 shares during the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

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

Shares of Pennantpark Floating Rate Capital stock traded up $0.02 on Monday, reaching $11.67. The company’s stock had a trading volume of 137,000 shares, compared to its average volume of 139,932. The company has a market capitalization of $452.08 million, a price-to-earnings ratio of 11.01 and a beta of 0.72. The firm’s fifty day simple moving average is $11.53 and its two-hundred day simple moving average is $11.70. Pennantpark Floating Rate Capital has a 52 week low of $11.05 and a 52 week high of $13.42.

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

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.

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