Raymond James started coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT - Free Report) in a report issued on Friday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the asset manager's stock.
Separately, StockNews.com upgraded shares of PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a research report on Monday, November 25th.
Check Out Our Latest Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Price Performance
PFLT traded down $0.03 during trading on Friday, hitting $10.68. The company's stock had a trading volume of 2,439,819 shares, compared to its average volume of 783,553. The business's fifty day simple moving average is $11.21 and its 200 day simple moving average is $11.32. PennantPark Floating Rate Capital has a twelve month low of $10.28 and a twelve month high of $12.63. The firm has a market capitalization of $888.90 million, a price-to-earnings ratio of 7.47 and a beta of 1.65. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63.
PennantPark Floating Rate Capital Announces Dividend
The business also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.1025 per share. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.52%. The ex-dividend date is Monday, December 16th. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is presently 86.01%.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC bought a new position in shares of PennantPark Floating Rate Capital in the second quarter valued at about $41,000. UMB Bank n.a. bought a new stake in shares of PennantPark Floating Rate Capital during the second quarter valued at approximately $63,000. Finally, Catalina Capital Group LLC bought a new position in PennantPark Floating Rate Capital in the second quarter valued at about $117,000. 19.77% of the stock is owned by institutional investors and hedge funds.
About PennantPark Floating Rate Capital
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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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