PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) announced a monthly dividend on Wednesday, June 4th, Wall Street Journal reports. Investors of record on Monday, June 16th will be given a dividend of 0.1025 per share by the asset manager on Tuesday, July 1st. This represents a $1.23 annualized dividend and a yield of 11.89%. The ex-dividend date is Monday, June 16th.
PennantPark Floating Rate Capital has decreased its dividend by an average of 35.2% per year over the last three years.
PennantPark Floating Rate Capital Stock Performance
NASDAQ:PFLT traded up $0.11 during mid-day trading on Friday, reaching $10.35. The company's stock had a trading volume of 617,020 shares, compared to its average volume of 1,008,403. 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 stock has a market cap of $1.03 billion, a P/E ratio of 7.39 and a beta of 0.96. The firm's fifty day moving average price is $10.01 and its two-hundred day moving average price is $10.72. PennantPark Floating Rate Capital has a 12-month low of $8.82 and a 12-month high of $12.02.
Insiders Place Their Bets
In other PennantPark Floating Rate Capital news, Director Jose A. Briones acquired 9,840 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was purchased at an average price of $10.15 per share, with a total value of $99,876.00. Following the transaction, the director now directly owns 329,438 shares in the company, valued at approximately $3,343,795.70. The trade was a 3.08% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company's stock.
Institutional Trading of PennantPark Floating Rate Capital
An institutional investor recently raised its position in PennantPark Floating Rate Capital stock. Millennium Management LLC grew its stake in shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Free Report) by 85.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,196,752 shares of the asset manager's stock after buying an additional 550,011 shares during the period. Millennium Management LLC owned 1.21% of PennantPark Floating Rate Capital worth $13,392,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 19.77% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the stock. Truist Financial decreased their price objective on shares of PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Maxim Group set a $11.50 target price on shares of PennantPark Floating Rate Capital and gave the stock a "buy" rating in a research report on Wednesday, May 14th. UBS Group lowered their price target on PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Wall Street Zen downgraded PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a research note on Tuesday, May 13th. Finally, LADENBURG THALM/SH SH raised PennantPark Floating Rate Capital from a "neutral" rating to a "buy" rating and set a $10.50 price objective for the company in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $11.08.
Get Our Latest Stock Report on PennantPark Floating Rate Capital
About PennantPark Floating Rate Capital
(
Get Free Report)
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.
See Also
Before you consider PennantPark Floating Rate Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PennantPark Floating Rate Capital wasn't on the list.
While PennantPark Floating Rate Capital currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
