PennantPark Floating Rate Capital (NASDAQ:PFLT) Now Covered by Analysts at Raymond James

Raymond James started coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) in a report issued on Friday morning, Marketbeat Ratings reports. The brokerage issued a market perform rating on the asset manager’s stock.

Separately, StockNews.com raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research report on Monday, November 25th.

PennantPark Floating Rate Capital Stock Down 0.3 %

Shares of NASDAQ:PFLT opened at $10.68 on Friday. The business’s 50 day moving average is $11.19 and its 200 day moving average is $11.32. The stock has a market cap of $888.90 million, a P/E ratio of 7.47 and a beta of 1.66. PennantPark Floating Rate Capital has a 52-week low of $10.28 and a 52-week high of $12.63. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be paid a dividend of $0.1025 per share. The ex-dividend date is Monday, December 16th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.52%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 86.01%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Large investors have recently bought and sold shares of the business. Sound Income Strategies LLC boosted its position in PennantPark Floating Rate Capital by 11.5% during the 3rd quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock valued at $34,285,000 after acquiring an additional 306,690 shares in the last quarter. Millennium Management LLC boosted its position in PennantPark Floating Rate Capital by 391.3% during the second quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock valued at $9,046,000 after purchasing an additional 624,342 shares in the last quarter. Van ECK Associates Corp boosted its position in PennantPark Floating Rate Capital by 22.5% during the third quarter. Van ECK Associates Corp now owns 1,798,265 shares of the asset manager’s stock valued at $20,554,000 after purchasing an additional 330,731 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in PennantPark Floating Rate Capital by 1,151.8% in the second quarter. Strategic Financial Concepts LLC now owns 698,506 shares of the asset manager’s stock valued at $81,000 after purchasing an additional 642,706 shares during the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in PennantPark Floating Rate Capital in the second quarter worth about $1,769,000. Institutional investors own 19.77% of the company’s stock.

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.