PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Thursday.
Separately, Raymond James initiated coverage on PennantPark Floating Rate Capital in a research note on Friday, December 20th. They set a "market perform" rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.67.
Check Out Our Latest Report on PennantPark Floating Rate Capital
PennantPark Floating Rate Capital Stock Performance
Shares of NASDAQ PFLT traded down $0.05 during midday trading on Thursday, hitting $9.33. 1,404,209 shares of the stock traded hands, compared to its average volume of 983,348. The firm has a market capitalization of $820.19 million, a P/E ratio of 6.63 and a beta of 1.30. PennantPark Floating Rate Capital has a one year low of $9.22 and a one year high of $12.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a 50-day moving average of $11.10 and a two-hundred day moving average of $11.17.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC bought a new stake in PennantPark Floating Rate Capital during the 4th quarter worth approximately $170,000. Mpwm Advisory Solutions LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at $55,000. Two Sigma Advisers LP lifted its stake in shares of PennantPark Floating Rate Capital by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 716,775 shares of the asset manager's stock valued at $7,834,000 after buying an additional 15,778 shares in the last quarter. Tidal Investments LLC boosted its holdings in PennantPark Floating Rate Capital by 2.3% in the 4th quarter. Tidal Investments LLC now owns 103,334 shares of the asset manager's stock worth $1,129,000 after buying an additional 2,322 shares during the period. Finally, Millennium Management LLC increased its stake in PennantPark Floating Rate Capital by 94.4% in the 4th quarter. Millennium Management LLC now owns 646,741 shares of the asset manager's stock worth $7,069,000 after buying an additional 314,064 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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