PennantPark Floating Rate Capital (NASDAQ:PFLT) Now Covered by Analysts at Raymond James

Raymond James assumed coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) in a research report report published on Friday morning, Marketbeat.com reports. The firm issued a market perform rating on the asset manager’s stock.

Separately, StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 25th.

PennantPark Floating Rate Capital Stock Down 0.3 %

NASDAQ:PFLT opened at $10.68 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.63. The company has a 50-day moving average of $11.21 and a 200 day moving average of $11.32. The firm has a market cap of $888.90 million, a PE ratio of 7.47 and a beta of 1.65.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.52%. The ex-dividend date is Monday, December 16th. PennantPark Floating Rate Capital’s payout ratio is currently 86.01%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

A number of large investors have recently made changes to their positions in PFLT. Quarry LP acquired a new position in PennantPark Floating Rate Capital during the 2nd quarter valued at about $34,000. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $39,000. International Assets Investment Management LLC acquired a new stake in PennantPark Floating Rate Capital in the 2nd quarter worth approximately $41,000. UMB Bank n.a. purchased a new stake in PennantPark Floating Rate Capital during the 2nd quarter worth approximately $63,000. Finally, Catalina Capital Group LLC acquired a new position in PennantPark Floating Rate Capital during the 2nd quarter valued at approximately $117,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.