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

StockNews.com upgraded shares of PennantPark Floating Rate Capital (NASDAQ:PFLT - Free Report) from a sell rating to a hold rating in a report released on Wednesday.

Separately, Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a "market perform" rating for the company.

PennantPark Floating Rate Capital Price Performance

PennantPark Floating Rate Capital stock traded down $0.08 during trading hours on Wednesday, hitting $11.18. 2,719,106 shares of the company traded hands, compared to its average volume of 876,508. The firm has a market cap of $930.10 million, a P/E ratio of 8.72 and a beta of 1.65. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $11.03 and its two-hundred day simple moving average is $11.20. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 11.01%. The ex-dividend date of this dividend is Tuesday, February 18th. PennantPark Floating Rate Capital's payout ratio is 86.01%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

A number of hedge funds have recently added to or reduced their stakes in PFLT. Wilmington Savings Fund Society FSB bought a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at about $39,000. Quarry LP boosted its position in PennantPark Floating Rate Capital by 190.2% during the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager's stock worth $40,000 after purchasing an additional 2,408 shares during the period. Investment Partners LTD. bought a new position in PennantPark Floating Rate Capital during the fourth quarter worth $109,000. Calton & Associates Inc. bought a new position in PennantPark Floating Rate Capital during the third quarter worth $119,000. Finally, Sigma Planning Corp acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth $119,000. Institutional investors own 19.77% 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.