PennantPark Floating Rate Capital (NASDAQ:PFLT) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a hold rating to a sell rating in a research report released on Tuesday morning.

Separately, Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating for the company.

PennantPark Floating Rate Capital Stock Down 0.9 %

PFLT opened at $11.20 on Tuesday. The company has a market capitalization of $931.76 million, a PE ratio of 7.83 and a beta of 1.65. 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 fifty-two week low of $10.28 and a fifty-two week high of $12.02. The business has a 50-day moving average of $11.01 and a 200-day moving average of $11.22.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 10.99%. The ex-dividend date of this dividend is Wednesday, January 15th. PennantPark Floating Rate Capital’s payout ratio is 86.01%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Quarry LP bought a new stake in PennantPark Floating Rate Capital during the second quarter valued at about $34,000. Wilmington Savings Fund Society FSB bought a new stake in PennantPark Floating Rate Capital during the 3rd quarter valued at approximately $39,000. Calton & Associates Inc. acquired a new stake in PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $119,000. Jmac Enterprises LLC bought a new position in PennantPark Floating Rate Capital in the 3rd quarter worth approximately $120,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $131,000. Institutional investors own 19.77% of the company’s stock.

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.