PennantPark Floating Rate Capital (NASDAQ:PFLT) Upgraded at StockNews.com

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

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

PennantPark Floating Rate Capital Trading Down 0.3 %

NASDAQ:PFLT opened at $11.03 on Wednesday. The firm has a market capitalization of $918.03 million, a P/E ratio of 8.59 and a beta of 1.65. The business has a 50 day simple moving average of $11.01 and a 200 day simple moving average of $11.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. PennantPark Floating Rate Capital has a 12-month low of $10.28 and a 12-month high of $12.13.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.1025 per share. The ex-dividend date of this dividend is Wednesday, January 15th. This represents a $1.23 annualized dividend and a dividend yield of 11.15%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 86.01%.

Institutional Trading of PennantPark Floating Rate Capital

Several large investors have recently added to or reduced their stakes in PFLT. Millennium Management LLC boosted its position in PennantPark Floating Rate Capital by 391.3% during the 2nd quarter. Millennium Management LLC now owns 783,912 shares of the asset manager’s stock worth $9,046,000 after acquiring an additional 624,342 shares during the period. Van ECK Associates Corp raised its stake in shares of 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. Sound Income Strategies LLC lifted its holdings in PennantPark Floating Rate Capital by 11.5% in the third quarter. Sound Income Strategies LLC now owns 2,963,258 shares of the asset manager’s stock worth $34,285,000 after purchasing an additional 306,690 shares during the period. Cubist Systematic Strategies LLC bought a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at about $1,769,000. Finally, JPMorgan Chase & Co. grew its position in PennantPark Floating Rate Capital by 72.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 251,733 shares of the asset manager’s stock valued at $2,913,000 after buying an additional 105,855 shares in the last quarter. 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.