Trexquant Investment LP Sells 56,560 Shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT)

Trexquant Investment LP lowered its position in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 373,613 shares of the asset manager's stock after selling 56,560 shares during the period. Trexquant Investment LP owned about 0.45% of PennantPark Floating Rate Capital worth $4,084,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at about $39,000. Investment Partners LTD. bought a new stake in PennantPark Floating Rate Capital during the fourth quarter valued at approximately $109,000. Sigma Planning Corp purchased a new stake in PennantPark Floating Rate Capital during the fourth quarter valued at approximately $119,000. Mirae Asset Global Investments Co. Ltd. bought a new position in PennantPark Floating Rate Capital in the fourth quarter worth approximately $131,000. Finally, Blue Trust Inc. purchased a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth $136,000. Hedge funds and other institutional investors own 19.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. StockNews.com upgraded PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a research report on Thursday, April 3rd. Raymond James assumed coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a "market perform" rating on the stock. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, PennantPark Floating Rate Capital currently has an average rating of "Hold" and an average price target of $11.67.

PennantPark Floating Rate Capital Price Performance

Shares of PennantPark Floating Rate Capital stock traded down $0.33 on Thursday, hitting $9.50. 546,189 shares of the company traded hands, compared to its average volume of 999,847. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The business has a 50-day simple moving average of $10.97 and a 200 day simple moving average of $11.12. PennantPark Floating Rate Capital Ltd. has a 52 week low of $8.82 and a 52 week high of $12.02. The stock has a market capitalization of $835.32 million, a P/E ratio of 6.80 and a beta of 1.30.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 12.95%. PennantPark Floating Rate Capital's payout ratio is 87.86%.

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.