PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT – Get Free Report) declared a monthly dividend on Friday, February 2nd, Wall Street Journal reports. Shareholders of record on Thursday, February 15th will be given a dividend of 0.1025 per share by the asset manager on Friday, March 1st. This represents a $1.23 annualized dividend and a yield of 10.78%. The ex-dividend date of this dividend is Wednesday, February 14th.
PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% per year over the last three years.
PennantPark Floating Rate Capital Price Performance
PennantPark Floating Rate Capital stock traded up $0.03 during mid-day trading on Monday, hitting $11.41. The company’s stock had a trading volume of 324,953 shares, compared to its average volume of 729,893. PennantPark Floating Rate Capital has a twelve month low of $9.69 and a twelve month high of $12.63. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $703.20 million, a P/E ratio of 8.37 and a beta of 1.70. The stock’s fifty day moving average price is $11.75 and its two-hundred day moving average price is $11.07.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. JMP Securities lifted their target price on shares of PennantPark Floating Rate Capital from $12.00 to $12.50 and gave the company a “market outperform” rating in a research note on Thursday, January 18th. TheStreet raised shares of PennantPark Floating Rate Capital from a “c” rating to a “b-” rating in a research note on Friday, November 17th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, PennantPark Floating Rate Capital has an average rating of “Moderate Buy” and a consensus price target of $11.83.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Guggenheim Capital LLC bought a new position in shares of PennantPark Floating Rate Capital during the 1st quarter worth about $120,000. Tower Research Capital LLC TRC bought a new position in shares of PennantPark Floating Rate Capital during the 2nd quarter worth about $117,000. Private Advisor Group LLC bought a new position in shares of PennantPark Floating Rate Capital during the 1st quarter worth about $116,000. XTX Topco Ltd bought a new position in shares of PennantPark Floating Rate Capital during the 2nd quarter worth about $114,000. Finally, Wells Fargo & Company MN increased its holdings in shares of PennantPark Floating Rate Capital by 11.2% during the 4th quarter. Wells Fargo & Company MN now owns 9,951 shares of the asset manager’s stock worth $109,000 after purchasing an additional 1,001 shares during the period. Institutional investors own 27.36% of the company’s stock.
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.
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