PennantPark Floating Rate Capital (NASDAQ:PFLT) Coverage Initiated at Raymond James

Equities research analysts at Raymond James initiated coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set a “market perform” rating on the asset manager’s stock.

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

PennantPark Floating Rate Capital Trading Up 0.4 %

Shares of PFLT opened at $10.71 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.63. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.63. The firm’s 50-day moving average price is $11.23 and its 200-day moving average price is $11.33. The firm has a market capitalization of $891.39 million, a price-to-earnings ratio of 7.49 and a beta of 1.65.

Institutional Trading of PennantPark Floating Rate Capital

Several institutional investors have recently bought and sold shares of the company. Tidal Investments LLC increased its position in shares of PennantPark Floating Rate Capital by 7.4% during the third quarter. Tidal Investments LLC now owns 101,012 shares of the asset manager’s stock valued at $1,169,000 after acquiring an additional 6,966 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of PennantPark Floating Rate Capital in the third quarter worth $39,000. XTX Topco Ltd purchased a new stake in shares of PennantPark Floating Rate Capital during the third quarter valued at $182,000. Paloma Partners Management Co bought a new stake in PennantPark Floating Rate Capital in the 3rd quarter worth about $174,000. Finally, Advisors Asset Management Inc. raised its position in PennantPark Floating Rate Capital by 9.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 281,626 shares of the asset manager’s stock worth $3,258,000 after buying an additional 23,836 shares during the last quarter. 19.77% of the stock is owned by hedge funds and other 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.