PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Wednesday.
Separately, Raymond James initiated coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a "market perform" rating on the stock.
View Our Latest Stock Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Trading Up 0.6 %
PennantPark Floating Rate Capital stock traded up $0.07 during mid-day trading on Wednesday, hitting $11.19. 1,349,494 shares of the company's stock were exchanged, compared to its average volume of 920,958. The company's 50 day simple moving average is $11.15 and its 200-day simple moving average is $11.21. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $983.79 million, a P/E ratio of 7.99 and a beta of 1.67. PennantPark Floating Rate Capital has a fifty-two week low of $10.28 and a fifty-two week high of $12.02.
Institutional Trading of PennantPark Floating Rate Capital
A number of institutional investors have recently modified their holdings of PFLT. NewEdge Wealth LLC raised its position in PennantPark Floating Rate Capital by 0.6% in the 4th quarter. NewEdge Wealth LLC now owns 288,372 shares of the asset manager's stock valued at $3,152,000 after buying an additional 1,700 shares during the last quarter. Bank of America Corp DE grew its stake in shares of PennantPark Floating Rate Capital by 14.6% during the 4th quarter. Bank of America Corp DE now owns 14,880 shares of the asset manager's stock worth $163,000 after acquiring an additional 1,891 shares in the last quarter. Graypoint LLC raised its holdings in shares of PennantPark Floating Rate Capital by 2.7% in the fourth quarter. Graypoint LLC now owns 71,156 shares of the asset manager's stock valued at $778,000 after purchasing an additional 1,897 shares during the last quarter. Legal & General Group Plc lifted its position in shares of PennantPark Floating Rate Capital by 0.4% in the fourth quarter. Legal & General Group Plc now owns 486,044 shares of the asset manager's stock worth $5,315,000 after purchasing an additional 2,081 shares in the last quarter. Finally, PFG Investments LLC lifted its position in shares of PennantPark Floating Rate Capital by 2.0% in the fourth quarter. PFG Investments LLC now owns 107,180 shares of the asset manager's stock worth $1,171,000 after purchasing an additional 2,118 shares in the last quarter. 19.77% of the stock is currently owned by institutional investors.
PennantPark Floating Rate Capital Company Profile
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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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