PennantPark Floating Rate Capital (NASDAQ:PFLT) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a sell rating to a hold rating in a report issued on Monday morning.

Other equities analysts also recently issued research reports about the stock. JMP Securities reduced their price objective on shares of PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a research note on Tuesday, July 30th. Maxim Group raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, August 12th.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT opened at $11.02 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.22 and a current ratio of 0.22. The company has a market capitalization of $809.10 million, a price-to-earnings ratio of 6.80 and a beta of 1.69. The company’s 50 day simple moving average is $11.42 and its 200 day simple moving average is $11.37. PennantPark Floating Rate Capital has a 1 year low of $10.28 and a 1 year high of $12.63.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be given a dividend of $0.1025 per share. This represents a $1.23 annualized dividend and a yield of 11.16%. The ex-dividend date is Friday, November 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is 75.93%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in PennantPark Floating Rate Capital during the second quarter worth approximately $34,000. Wilmington Savings Fund Society FSB acquired a new position in PennantPark Floating Rate Capital during the third quarter worth approximately $39,000. International Assets Investment Management LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the second quarter worth $41,000. UMB Bank n.a. acquired a new stake in shares of PennantPark Floating Rate Capital in the second quarter worth $63,000. Finally, Catalina Capital Group LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the second quarter worth $117,000. Institutional investors and hedge funds 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.