PennantPark Floating Rate Capital (NASDAQ:PFLT) Upgraded at StockNews.com

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

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

PennantPark Floating Rate Capital Stock Performance

Shares of NASDAQ PFLT opened at $10.04 on Thursday. PennantPark Floating Rate Capital has a 12 month low of $10.02 and a 12 month high of $12.02. The stock has a 50 day moving average of $11.14 and a 200-day moving average of $11.19. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $882.64 million, a P/E ratio of 7.17 and a beta of 1.67.

Institutional Trading of PennantPark Floating Rate Capital

Several institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. bought a new position in PennantPark Floating Rate Capital during the 4th quarter worth $10,533,000. Strategic Financial Concepts LLC grew its stake in shares of PennantPark Floating Rate Capital by 1,080.4% in the fourth quarter. Strategic Financial Concepts LLC now owns 723,566 shares of the asset manager’s stock valued at $7,909,000 after acquiring an additional 662,266 shares in the last quarter. Balyasny Asset Management L.P. increased its position in PennantPark Floating Rate Capital by 57.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,507,513 shares of the asset manager’s stock worth $16,477,000 after acquiring an additional 549,905 shares during the period. Sound Income Strategies LLC raised its stake in PennantPark Floating Rate Capital by 12.0% in the 4th quarter. Sound Income Strategies LLC now owns 3,320,039 shares of the asset manager’s stock worth $36,288,000 after purchasing an additional 356,781 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in PennantPark Floating Rate Capital by 94.4% in the 4th quarter. Millennium Management LLC now owns 646,741 shares of the asset manager’s stock valued at $7,069,000 after purchasing an additional 314,064 shares during the period. 19.77% of the stock is currently owned by 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.