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

PennantPark Floating Rate Capital (NASDAQ:PFLT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Wednesday.

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

PennantPark Floating Rate Capital Stock Up 0.1 %

NASDAQ:PFLT opened at $11.24 on Wednesday. The firm has a market capitalization of $988.89 million, a P/E ratio of 7.86 and a beta of 1.65. The company’s fifty day moving average price is $11.03 and its 200-day moving average price is $11.20. PennantPark Floating Rate Capital has a 1-year low of $10.28 and a 1-year high of $12.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new position in PennantPark Floating Rate Capital during the third quarter worth $39,000. Investment Partners LTD. acquired a new stake in PennantPark Floating Rate Capital in the 4th quarter worth about $109,000. Calton & Associates Inc. acquired a new stake in PennantPark Floating Rate Capital in the 3rd quarter worth about $119,000. Sigma Planning Corp acquired a new position in shares of PennantPark Floating Rate Capital during the fourth quarter valued at approximately $119,000. Finally, Jmac Enterprises LLC acquired a new stake in shares of PennantPark Floating Rate Capital in the third quarter worth approximately $120,000. Institutional investors and hedge funds 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.