PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Receives Average Rating of "Hold" from Brokerages

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) has received a consensus rating of "Hold" from the five analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $11.38.

A number of research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $10.50 and set a "neutral" rating for the company in a report on Thursday, April 17th. Keefe, Bruyette & Woods decreased their price objective on shares of PennantPark Floating Rate Capital from $11.50 to $11.00 and set a "market perform" rating for the company in a report on Tuesday, April 8th. Finally, StockNews.com raised shares of PennantPark Floating Rate Capital from a "sell" rating to a "hold" rating in a research note on Monday, May 5th.

PennantPark Floating Rate Capital Stock Down 0.2%

Shares of NASDAQ PFLT opened at $10.06 on Monday. The stock has a market cap of $884.84 million, a P/E ratio of 7.19 and a beta of 1.01. The firm has a 50 day moving average price of $10.40 and a 200 day moving average price of $10.85. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. PennantPark Floating Rate Capital has a 52-week low of $8.82 and a 52-week high of $12.02.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be paid a $0.1025 dividend. This represents a $1.23 dividend on an annualized basis and a yield of 12.23%. The ex-dividend date of this dividend is Thursday, May 15th. PennantPark Floating Rate Capital's payout ratio is currently 87.86%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in PennantPark Floating Rate Capital in the first quarter valued at approximately $978,000. LPL Financial LLC lifted its position in shares of PennantPark Floating Rate Capital by 1.5% in the first quarter. LPL Financial LLC now owns 438,966 shares of the asset manager's stock worth $4,912,000 after purchasing an additional 6,679 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of PennantPark Floating Rate Capital by 94.5% in the first quarter. Cetera Investment Advisers now owns 62,375 shares of the asset manager's stock worth $698,000 after purchasing an additional 30,313 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of PennantPark Floating Rate Capital by 4.0% in the first quarter. Wedbush Securities Inc. now owns 132,529 shares of the asset manager's stock worth $1,483,000 after purchasing an additional 5,037 shares in the last quarter. Finally, PFG Advisors lifted its position in shares of PennantPark Floating Rate Capital by 3.8% in the first quarter. PFG Advisors now owns 108,150 shares of the asset manager's stock worth $1,210,000 after purchasing an additional 4,002 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.

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