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

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

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

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ PFLT opened at $11.16 on Tuesday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $928.43 million, a price-to-earnings ratio of 7.80 and a beta of 1.65. PennantPark Floating Rate Capital has a twelve month low of $10.28 and a twelve month high of $12.02. The business has a 50 day simple moving average of $11.01 and a 200-day simple moving average of $11.22.

PennantPark Floating Rate Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a dividend of $0.1025 per share. The ex-dividend date is Wednesday, January 15th. This represents a $1.23 dividend on an annualized basis and a yield of 11.03%. PennantPark Floating Rate Capital’s payout ratio is currently 86.01%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in shares of PennantPark Floating Rate Capital during the second quarter worth about $34,000. Wilmington Savings Fund Society FSB bought a new position in PennantPark Floating Rate Capital in the 3rd quarter worth about $39,000. Calton & Associates Inc. acquired a new stake in shares of PennantPark Floating Rate Capital in the third quarter valued at approximately $119,000. Jmac Enterprises LLC bought a new stake in shares of PennantPark Floating Rate Capital during the third quarter valued at approximately $120,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $131,000. 19.77% of the stock is currently owned by institutional investors.

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.