PennantPark Floating Rate Capital (NASDAQ:PFLT) Downgraded by StockNews.com to Sell

PennantPark Floating Rate Capital (NASDAQ:PFLT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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

PennantPark Floating Rate Capital Stock Down 0.9 %

NASDAQ PFLT traded down $0.11 during mid-day trading on Tuesday, reaching $11.20. 841,669 shares of the company’s stock traded hands, compared to its average volume of 812,968. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.02. The company has a fifty day simple moving average of $11.01 and a 200-day simple moving average of $11.22. The company has a market cap of $931.76 million, a price-to-earnings ratio of 7.83 and a beta of 1.65.

Institutional Trading of PennantPark Floating Rate Capital

A number of institutional investors and hedge funds have recently modified their holdings of PFLT. Graypoint LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 2.7% in the 3rd quarter. Graypoint LLC now owns 69,259 shares of the asset manager’s stock valued at $801,000 after buying an additional 1,844 shares during the period. PFG Investments LLC grew its holdings in shares of PennantPark Floating Rate Capital by 2.0% during the fourth quarter. PFG Investments LLC now owns 107,180 shares of the asset manager’s stock valued at $1,171,000 after purchasing an additional 2,118 shares during the last quarter. Quarry LP acquired a new stake in shares of PennantPark Floating Rate Capital during the 2nd quarter worth approximately $34,000. Wilmington Savings Fund Society FSB bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter worth approximately $39,000. Finally, Tidal Investments LLC boosted its position in PennantPark Floating Rate Capital by 7.4% during the 3rd quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager’s stock valued at $1,169,000 after purchasing an additional 6,966 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

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.