PennantPark Floating Rate Capital (NASDAQ:PFLT) Upgraded at StockNews.com

StockNews.com upgraded shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a sell rating to a hold rating in a research report report published on Wednesday.

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

PennantPark Floating Rate Capital Price Performance

PFLT stock opened at $11.18 on Wednesday. The business has a 50 day moving average price of $11.03 and a 200 day moving average price of $11.20. The stock has a market cap of $930.10 million, a price-to-earnings ratio of 7.81 and a beta of 1.65. PennantPark Floating Rate Capital has a fifty-two week low of $10.28 and a fifty-two week high of $12.02. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 18th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date is Tuesday, February 18th. PennantPark Floating Rate Capital’s dividend payout ratio is currently 86.01%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in PennantPark Floating Rate Capital in the third quarter valued at approximately $39,000. Quarry LP lifted its stake in PennantPark Floating Rate Capital by 190.2% in the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock valued at $40,000 after buying an additional 2,408 shares during the last quarter. Investment Partners LTD. purchased a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $109,000. Calton & Associates Inc. purchased a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth approximately $119,000. Finally, Sigma Planning Corp purchased a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $119,000. Hedge funds and other 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.