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

PennantPark Floating Rate Capital (NASDAQ:PFLT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, Raymond James initiated coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They issued a “market perform” rating on the stock.

PennantPark Floating Rate Capital Stock Down 0.3 %

NASDAQ:PFLT traded down $0.03 during trading hours on Wednesday, hitting $11.03. The stock had a trading volume of 679,974 shares, compared to its average volume of 789,073. The business has a 50 day simple moving average of $11.01 and a two-hundred day simple moving average of $11.26. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.13. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63. The company has a market cap of $918.03 million, a PE ratio of 7.71 and a beta of 1.65.

Institutional Trading of PennantPark Floating Rate Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new stake in shares of PennantPark Floating Rate Capital in the 2nd quarter worth about $34,000. Wilmington Savings Fund Society FSB acquired a new position in PennantPark Floating Rate Capital in the third quarter worth about $39,000. Calton & Associates Inc. bought a new stake in PennantPark Floating Rate Capital in the third quarter valued at about $119,000. Jmac Enterprises LLC acquired a new stake in PennantPark Floating Rate Capital during the third quarter valued at approximately $120,000. Finally, Paloma Partners Management Co acquired a new stake in PennantPark Floating Rate Capital during the third quarter valued at approximately $174,000. 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.