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

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

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

PennantPark Floating Rate Capital Stock Performance

Shares of NASDAQ:PFLT opened at $11.19 on Wednesday. PennantPark Floating Rate Capital has a 52 week low of $10.28 and a 52 week high of $12.02. The stock has a market capitalization of $983.79 million, a P/E ratio of 7.99 and a beta of 1.67. The firm has a fifty day simple moving average of $11.15 and a two-hundred day simple moving average of $11.22. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.1025 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.23 annualized dividend and a dividend yield of 11.00%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Institutional investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of PennantPark Floating Rate Capital in the 3rd quarter worth about $39,000. Quarry LP lifted its holdings in PennantPark Floating Rate Capital by 190.2% during the 4th quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock valued at $40,000 after buying an additional 2,408 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new stake in PennantPark Floating Rate Capital during the 4th quarter valued at about $55,000. Investment Partners LTD. bought a new stake in PennantPark Floating Rate Capital during the 4th quarter valued at about $109,000. Finally, Sigma Planning Corp bought a new stake in PennantPark Floating Rate Capital during the 4th quarter valued at about $119,000. 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.