PennantPark Floating Rate Capital (NASDAQ:PFLT) Rating Increased to Hold 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 note published on Friday morning.

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

PennantPark Floating Rate Capital Stock Up 1.0 %

Shares of PFLT opened at $11.15 on Friday. The firm has a market capitalization of $980.27 million, a price-to-earnings ratio of 7.96 and a beta of 1.67. 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’s fifty day moving average price is $11.13 and its two-hundred day moving average price is $11.22. PennantPark Floating Rate Capital has a 52 week low of $10.28 and a 52 week high of $12.02.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.04%. The ex-dividend date is Friday, March 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 87.86%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at $39,000. Quarry LP lifted its stake in shares of PennantPark Floating Rate Capital by 190.2% in the 4th quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 2,408 shares during the period. Mpwm Advisory Solutions LLC acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $55,000. Investment Partners LTD. acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $109,000. Finally, Sigma Planning Corp acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $119,000. Institutional investors and hedge funds 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.