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

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

PennantPark Floating Rate Capital Stock Up 1.3 %

PFLT opened at $10.86 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. The stock has a market cap of $903.88 million, a PE ratio of 7.59 and a beta of 1.66. The business’s fifty day simple moving average is $11.15 and its 200 day simple moving average is $11.31. PennantPark Floating Rate Capital has a 52 week low of $10.28 and a 52 week high of $12.63.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 11.33%. The ex-dividend date is Monday, December 16th. PennantPark Floating Rate Capital’s payout ratio is 86.01%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of PennantPark Floating Rate Capital in the second quarter worth about $34,000. Wilmington Savings Fund Society FSB purchased a new stake in PennantPark Floating Rate Capital in the third quarter worth $39,000. International Assets Investment Management LLC bought a new stake in PennantPark Floating Rate Capital in the second quarter valued at $41,000. UMB Bank n.a. purchased a new position in PennantPark Floating Rate Capital during the 2nd quarter valued at $63,000. Finally, Calton & Associates Inc. purchased a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter worth about $119,000. 19.77% of the stock is owned by 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.