PennantPark Floating Rate Capital (NASDAQ:PFLT) Rating Increased to Hold at 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 research report released on Saturday morning.

Other research analysts also recently issued reports about the stock. Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a "market perform" rating on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $11.67.

PennantPark Floating Rate Capital Trading Up 1.6 %

PFLT traded up $0.16 on Friday, hitting $9.64. 145,688 shares of the company were exchanged, compared to its average volume of 1,014,326. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. PennantPark Floating Rate Capital has a 12 month low of $8.82 and a 12 month high of $12.02. The firm has a fifty day simple moving average of $10.83 and a two-hundred day simple moving average of $11.06. The stock has a market capitalization of $847.46 million, a PE ratio of 6.88 and a beta of 1.30.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a dividend yield of 12.77%. The ex-dividend date of this dividend is Tuesday, April 15th. PennantPark Floating Rate Capital's dividend payout ratio is currently 87.86%.

Institutional Trading of PennantPark Floating Rate Capital

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital during the 3rd quarter worth approximately $39,000. Quarry LP boosted its position in shares of PennantPark Floating Rate Capital by 190.2% during the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager's stock valued at $40,000 after purchasing an additional 2,408 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in PennantPark Floating Rate Capital in the fourth quarter worth $55,000. Investment Partners LTD. purchased a new stake in PennantPark Floating Rate Capital in the fourth quarter worth $109,000. Finally, Sigma Planning Corp bought a new position in PennantPark Floating Rate Capital in the fourth quarter worth $119,000. 19.77% of the stock is currently owned by hedge funds and other institutional investors.

About PennantPark Floating Rate Capital

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.