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

Raymond James initiated coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) in a research report report published on Friday, Marketbeat reports. The brokerage issued a market perform rating on the asset manager’s stock.

Separately, StockNews.com raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 25th.

PennantPark Floating Rate Capital Stock Performance

Shares of NASDAQ:PFLT opened at $10.68 on Friday. The firm has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $11.32. PennantPark Floating Rate Capital has a 52 week low of $10.28 and a 52 week high of $12.63. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $888.90 million, a P/E ratio of 7.47 and a beta of 1.66.

PennantPark Floating Rate Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.1025 per share. The ex-dividend date is Monday, December 16th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.52%. PennantPark Floating Rate Capital’s dividend payout ratio is presently 86.01%.

Institutional Trading of PennantPark Floating Rate Capital

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFLT. Catalina Capital Group LLC purchased a new position in shares of PennantPark Floating Rate Capital during the second quarter valued at approximately $117,000. Allspring Global Investments Holdings LLC boosted its holdings in PennantPark Floating Rate Capital by 48.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 19,500 shares of the asset manager’s stock valued at $225,000 after acquiring an additional 6,400 shares during the period. UMB Bank n.a. bought a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at $63,000. International Assets Investment Management LLC purchased a new stake in PennantPark Floating Rate Capital in the second quarter worth $41,000. Finally, Commonwealth Equity Services LLC lifted its position in shares of PennantPark Floating Rate Capital by 52.6% during the second quarter. Commonwealth Equity Services LLC now owns 38,909 shares of the asset manager’s stock worth $449,000 after purchasing an additional 13,411 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.