PennantPark Floating Rate Capital (NASDAQ:PFLT) Sees Unusually-High Trading Volume

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) shares saw unusually-strong trading volume on Monday . Approximately 2,413,409 shares changed hands during mid-day trading, an increase of 286% from the previous session's volume of 625,349 shares.The stock last traded at $11.45 and had previously closed at $11.49.

Analysts Set New Price Targets

Separately, JMP Securities restated a "market outperform" rating and issued a $12.50 price target on shares of PennantPark Floating Rate Capital in a research note on Tuesday, March 26th.

PennantPark Floating Rate Capital Trading Down 0.3 %

The firm has a market capitalization of $706.28 million, a P/E ratio of 10.24 and a beta of 1.68. The business's 50 day moving average is $11.31 and its two-hundred day moving average is $11.29. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.34.

PennantPark Floating Rate Capital (NASDAQ:PFLT - Get Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. PennantPark Floating Rate Capital had a return on equity of 11.83% and a net margin of 43.40%. The company had revenue of $37.97 million for the quarter, compared to the consensus estimate of $35.03 million. Analysts expect that PennantPark Floating Rate Capital Ltd. will post 1.29 EPS for the current year.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.1025 dividend. The ex-dividend date is Friday, April 12th. This represents a $1.23 annualized dividend and a yield of 10.73%. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is 109.82%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

A number of institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Wealth LLC purchased a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at approximately $3,741,000. International Assets Investment Management LLC raised its stake in PennantPark Floating Rate Capital by 1,110.0% during the 4th quarter. International Assets Investment Management LLC now owns 287,738 shares of the asset manager's stock valued at $3,482,000 after purchasing an additional 263,958 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 6.2% in the first quarter. Sound Income Strategies LLC now owns 3,446,552 shares of the asset manager's stock valued at $39,222,000 after purchasing an additional 200,250 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of PennantPark Floating Rate Capital by 25.8% in the third quarter. Van ECK Associates Corp now owns 913,933 shares of the asset manager's stock worth $9,743,000 after buying an additional 187,337 shares during the period. Finally, PFG Investments LLC purchased a new position in shares of PennantPark Floating Rate Capital during the first quarter valued at $1,159,000. 19.77% of the stock is owned by institutional investors and hedge funds.

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.