PennantPark Floating Rate Capital (NASDAQ:PFLT) Lowered 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 research note issued to investors on Wednesday morning.

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

PennantPark Floating Rate Capital Trading Down 0.1 %

Shares of PennantPark Floating Rate Capital stock opened at $11.10 on Wednesday. PennantPark Floating Rate Capital has a 1 year low of $10.28 and a 1 year high of $12.02. The company’s fifty day simple moving average is $11.14 and its 200-day simple moving average is $11.22. The company has a market cap of $975.87 million, a price-to-earnings ratio of 7.93 and a beta of 1.67. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57.

PennantPark Floating Rate Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.1025 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.23 annualized dividend and a yield of 11.09%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 87.86%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at about $39,000. Quarry LP boosted its holdings in PennantPark Floating Rate Capital by 190.2% during the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 2,408 shares in the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter worth approximately $55,000. Investment Partners LTD. bought a new position in shares of PennantPark Floating Rate Capital during the 4th quarter worth approximately $109,000. Finally, Sigma Planning Corp acquired a new stake in PennantPark Floating Rate Capital in the 4th quarter valued at $119,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

About PennantPark Floating Rate Capital

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.