PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $8.82 and last traded at $8.88, with a volume of 1198084 shares changing hands. The stock had previously closed at $8.95.
Analyst Ratings Changes
PFLT has been the subject of a number of analyst reports. Citigroup reissued an "outperform" rating on shares of PennantPark Floating Rate Capital in a research note on Tuesday, June 24th. Keefe, Bruyette & Woods reduced their target price on shares of PennantPark Floating Rate Capital from $11.00 to $10.50 and set a "market perform" rating for the company in a research note on Wednesday, August 13th. LADENBURG THALM/SH SH raised shares of PennantPark Floating Rate Capital to a "strong-buy" rating in a research note on Wednesday, August 13th. JMP Securities reaffirmed a "market outperform" rating and issued a $11.00 price target on shares of PennantPark Floating Rate Capital in a research note on Wednesday, September 3rd. Finally, UBS Group upped their price target on shares of PennantPark Floating Rate Capital from $10.50 to $10.75 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $10.88.
Read Our Latest Research Report on PFLT
PennantPark Floating Rate Capital Price Performance
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 business's fifty day moving average is $10.16 and its 200 day moving average is $10.26. The firm has a market capitalization of $881.55 million, a P/E ratio of 6.35 and a beta of 0.98.
PennantPark Floating Rate Capital Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be issued a dividend of $0.1025 per share. The ex-dividend date is Monday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.8%. PennantPark Floating Rate Capital's payout ratio is currently 146.43%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in PFLT. Allworth Financial LP increased its stake in PennantPark Floating Rate Capital by 1,603.7% in the 2nd quarter. Allworth Financial LP now owns 2,777 shares of the asset manager's stock valued at $29,000 after buying an additional 2,614 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $41,000. CWM LLC acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $49,000. BNP Paribas Financial Markets acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $55,000. Finally, Golden State Wealth Management LLC acquired a new position in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $101,000. Institutional investors and hedge funds own 19.77% of the company's stock.
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.
Further Reading
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