PennantPark Floating Rate Capital (NASDAQ:PFLT) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a sell rating to a hold rating in a report issued 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 Stock Down 1.6 %

Shares of NASDAQ PFLT opened at $11.22 on Wednesday. PennantPark Floating Rate Capital has a 1 year low of $10.28 and a 1 year high of $12.02. The firm has a 50-day simple moving average of $11.03 and a two-hundred day simple moving average of $11.20. The company has a market cap of $933.76 million, a P/E ratio of 7.85 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 Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be issued a dividend of $0.1025 per share. The ex-dividend date is Tuesday, February 18th. This represents a $1.23 dividend on an annualized basis and a yield of 10.96%. PennantPark Floating Rate Capital’s payout ratio is 86.01%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Hedge funds have recently added to or reduced their stakes in the stock. NewEdge Wealth LLC raised its stake in shares of PennantPark Floating Rate Capital by 0.6% during the fourth quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager’s stock valued at $3,152,000 after acquiring an additional 1,700 shares in the last quarter. Graypoint LLC increased its holdings in PennantPark Floating Rate Capital by 2.7% during the 3rd quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock worth $801,000 after purchasing an additional 1,844 shares during the period. PFG Investments LLC raised its position in PennantPark Floating Rate Capital by 2.0% during the 4th quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock valued at $1,171,000 after purchasing an additional 2,118 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter worth $39,000. Finally, Commonwealth Equity Services LLC grew its position in shares of PennantPark Floating Rate Capital by 10.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 40,826 shares of the asset manager’s stock worth $446,000 after buying an additional 3,782 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.

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.