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

StockNews.com cut shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) from a hold rating to a sell rating in a research note released on Wednesday morning.

Separately, Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research note on Friday, December 20th. They issued a “market perform” rating for the company.

PennantPark Floating Rate Capital Stock Up 0.6 %

PFLT opened at $11.19 on Wednesday. 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 $10.28 and a 1-year high of $12.02. The company has a market capitalization of $983.79 million, a PE ratio of 7.99 and a beta of 1.67. The firm’s 50 day simple moving average is $11.15 and its two-hundred day simple moving average is $11.22.

PennantPark Floating Rate Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.1025 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.23 dividend on an annualized basis and a dividend yield of 11.00%. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 87.86%.

Institutional Trading of PennantPark Floating Rate Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in PennantPark Floating Rate Capital during the third quarter valued at $39,000. Quarry LP grew its stake 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 acquiring an additional 2,408 shares in the last quarter. Mpwm Advisory Solutions LLC purchased a new position in PennantPark Floating Rate Capital during the fourth quarter valued at $55,000. Investment Partners LTD. purchased a new position in PennantPark Floating Rate Capital during the fourth quarter valued at $109,000. Finally, Sigma Planning Corp purchased a new position in PennantPark Floating Rate Capital during the fourth quarter valued at $119,000. 19.77% of the stock is owned by hedge funds and other institutional investors.

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.