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

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

PFLT has been the subject of a number of other reports. Maxim Group raised PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Monday, August 12th. JMP Securities cut their price objective on PennantPark Floating Rate Capital from $12.50 to $12.00 and set a “market outperform” rating on the stock in a report on Tuesday, July 30th.

PennantPark Floating Rate Capital Stock Performance

Shares of NASDAQ PFLT opened at $11.07 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market cap of $812.76 million, a PE ratio of 7.75 and a beta of 1.69. The company has a 50-day simple moving average of $11.40 and a 200-day simple moving average of $11.36. PennantPark Floating Rate Capital has a 12 month low of $10.28 and a 12 month high of $12.63.

PennantPark Floating Rate Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Friday, November 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 11.11%. The ex-dividend date of this dividend is Friday, November 15th. 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 made changes to their positions in PFLT. Quarry LP bought a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at about $34,000. Wilmington Savings Fund Society FSB bought a new position in shares of PennantPark Floating Rate Capital in the third quarter valued at approximately $39,000. International Assets Investment Management LLC acquired a new position in shares of PennantPark Floating Rate Capital during the second quarter valued at approximately $41,000. UMB Bank n.a. acquired a new position in shares of PennantPark Floating Rate Capital during the second quarter valued at approximately $63,000. Finally, Catalina Capital Group LLC bought a new stake in PennantPark Floating Rate Capital during the second quarter worth approximately $117,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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.