PennantPark Floating Rate Capital (NASDAQ:PFLT) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Separately, Raymond James began coverage on shares of PennantPark Floating Rate Capital in a research report on Friday, December 20th. They issued a “market perform” rating on the stock.

PennantPark Floating Rate Capital Trading Up 0.3 %

NASDAQ:PFLT opened at $11.22 on Tuesday. The stock has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $11.22. The firm has a market capitalization of $986.43 million, a price-to-earnings ratio of 8.01 and a beta of 1.65. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.02. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 10.97%. The ex-dividend date is Tuesday, February 18th. PennantPark Floating Rate Capital’s payout ratio is 87.86%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Several hedge funds have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at about $39,000. Quarry LP grew 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 valued at $40,000 after purchasing an additional 2,408 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in PennantPark Floating Rate Capital in the 4th quarter valued at approximately $55,000. Investment Partners LTD. purchased a new stake in PennantPark Floating Rate Capital in the 4th quarter worth approximately $109,000. Finally, Jmac Enterprises LLC acquired a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $120,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.