PennantPark Floating Rate Capital (NASDAQ:PFLT) Stock Rating Upgraded by StockNews.com

PennantPark Floating Rate Capital (NASDAQ:PFLT) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.

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

PennantPark Floating Rate Capital Price Performance

Shares of NASDAQ PFLT opened at $10.04 on Thursday. The company has a fifty day moving average price of $11.14 and a 200 day moving average price of $11.19. The firm has a market cap of $882.64 million, a PE ratio of 7.17 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 has a 1-year low of $10.02 and a 1-year high of $12.02.

Institutional Trading of PennantPark Floating Rate Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in PennantPark Floating Rate Capital in the third quarter valued at approximately $39,000. Quarry LP boosted its holdings in shares of PennantPark Floating Rate Capital by 190.2% in the 4th quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock valued at $40,000 after buying an additional 2,408 shares during the last quarter. Mpwm Advisory Solutions LLC bought a new position in shares of PennantPark Floating Rate Capital in the fourth quarter valued at $55,000. Investment Partners LTD. acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth $109,000. Finally, Sigma Planning Corp acquired a new position in PennantPark Floating Rate Capital during the fourth quarter worth $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.