Yelin Lapidot Holdings Management Ltd. Raises Position in PennantPark Floating Rate Capital Ltd. $PFLT

Yelin Lapidot Holdings Management Ltd. lifted its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) by 281.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 74,427 shares of the asset manager’s stock after buying an additional 54,927 shares during the period. Yelin Lapidot Holdings Management Ltd.’s holdings in PennantPark Floating Rate Capital were worth $662,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PFLT. Millennium Management LLC raised its holdings in PennantPark Floating Rate Capital by 85.0% in the 1st quarter. Millennium Management LLC now owns 1,196,752 shares of the asset manager’s stock worth $13,392,000 after acquiring an additional 550,011 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of PennantPark Floating Rate Capital by 8.9% in the 2nd quarter. Sound Income Strategies LLC now owns 3,904,625 shares of the asset manager’s stock worth $40,335,000 after purchasing an additional 319,424 shares in the last quarter. Jane Street Group LLC raised its stake 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 worth $3,578,000 after purchasing an additional 279,399 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of PennantPark Floating Rate Capital by 734.7% in the second quarter. Y Intercept Hong Kong Ltd now owns 207,207 shares of the asset manager’s stock worth $2,140,000 after purchasing an additional 182,384 shares during the last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in shares of PennantPark Floating Rate Capital by 118.1% during the second quarter. Brevan Howard Capital Management LP now owns 141,985 shares of the asset manager’s stock valued at $1,467,000 after purchasing an additional 76,895 shares in the last quarter. Hedge funds and other institutional investors own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Stock Up 0.3%

Shares of PFLT stock opened at $9.59 on Monday. 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 $8.40 and a 12 month high of $11.50. The stock has a market cap of $951.00 million, a P/E ratio of 6.85 and a beta of 0.75. The company has a 50 day simple moving average of $9.23 and a two-hundred day simple moving average of $9.67.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be paid a $0.1025 dividend. This represents a c) annualized dividend and a dividend yield of 12.8%. The ex-dividend date is Friday, January 16th. PennantPark Floating Rate Capital’s dividend payout ratio is 168.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented 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 objective for the company in a report on Monday, October 6th. UBS Group cut their target price on shares of PennantPark Floating Rate Capital from $10.50 to $9.50 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, PennantPark Floating Rate Capital presently has a consensus rating of “Buy” and a consensus target price of $10.67.

PennantPark Floating Rate Capital Profile

PennantPark Floating Rate Capital, Inc (NASDAQ: PFLT) is a closed-end management investment company organized as a business development company (BDC) under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, secondarily, capital appreciation for its shareholders through debt and equity investments in middle-market companies. PennantPark Floating Rate Capital focuses on floating-rate instruments to help mitigate interest-rate risk and align cash flows with its dividend strategy.

The company’s portfolio is concentrated in senior secured loans, second-lien debt, mezzanine securities and, from time to time, equity investments.