PennantPark Floating Rate Capital (NASDAQ:PFLT) Coverage Initiated by Analysts at Raymond James

Raymond James began coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) in a report published on Friday morning, Marketbeat Ratings reports. The firm 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 report on Monday, November 25th.

PennantPark Floating Rate Capital Price Performance

NASDAQ PFLT opened at $10.68 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $888.90 million, a price-to-earnings ratio of 7.47 and a beta of 1.65. The stock has a 50-day moving average of $11.21 and a 200 day moving average of $11.32. PennantPark Floating Rate Capital has a one year low of $10.28 and a one year high of $12.63.

PennantPark Floating Rate Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 2nd. Shareholders 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 annualized dividend and a yield of 11.52%. PennantPark Floating Rate Capital’s payout ratio is currently 86.01%.

Institutional Inflows and Outflows

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