PennantPark Floating Rate Capital (NASDAQ:PFLT) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a sell rating to a hold rating in a research note published on Wednesday morning.

Separately, Raymond James initiated coverage on shares of PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating for the company.

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ:PFLT opened at $11.22 on Wednesday. The firm has a market cap of $933.76 million, a price-to-earnings ratio of 7.85 and a beta of 1.65. The firm has a fifty day moving average price of $11.03 and a 200 day moving average price of $11.20. PennantPark Floating Rate Capital has a fifty-two week low of $10.28 and a fifty-two week high of $12.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18.

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 $0.1025 dividend. This represents a $1.23 annualized dividend and a yield of 10.96%. The ex-dividend date of this dividend is Tuesday, February 18th. PennantPark Floating Rate Capital’s dividend payout ratio is presently 86.01%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Several institutional investors have recently bought and sold shares of PFLT. Wilmington Savings Fund Society FSB bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter worth about $39,000. Investment Partners LTD. purchased a new position in PennantPark Floating Rate Capital in the fourth quarter worth about $109,000. Calton & Associates Inc. bought a new stake in PennantPark Floating Rate Capital during the third quarter worth approximately $119,000. Sigma Planning Corp purchased a new stake in PennantPark Floating Rate Capital during the fourth quarter valued at approximately $119,000. Finally, Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $120,000. Institutional investors own 19.77% of the company’s stock.

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.