PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $10.62 and traded as high as $10.77. PennantPark Floating Rate Capital shares last traded at $10.64, with a volume of 780,163 shares changing hands.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. Truist Financial lowered their price objective on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. JMP Securities decreased their target price on PennantPark Floating Rate Capital from $12.00 to $11.00 and set a "market outperform" rating for the company in a research note on Tuesday, June 24th. UBS Group upped their target price on PennantPark Floating Rate Capital from $10.50 to $10.75 and gave the company a "neutral" rating in a report on Wednesday. Wall Street Zen downgraded PennantPark Floating Rate Capital from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. Finally, Maxim Group set a $11.50 target price on PennantPark Floating Rate Capital and gave the company a "buy" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $10.96.
Check Out Our Latest Research Report on PFLT
PennantPark Floating Rate Capital Price Performance
The company has a 50-day moving average of $10.35 and a 200 day moving average of $10.61. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. The firm has a market cap of $1.07 billion, a P/E ratio of 7.67 and a beta of 0.95.
PennantPark Floating Rate Capital Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 15th will be issued a dividend of $0.1025 per share. The ex-dividend date of this dividend is Tuesday, July 15th. This represents a $1.23 annualized dividend and a yield of 11.46%. PennantPark Floating Rate Capital's dividend payout ratio is presently 136.67%.
Insider Activity at PennantPark Floating Rate Capital
In other PennantPark Floating Rate Capital news, Director Jose A. Briones purchased 9,840 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $10.15 per share, with a total value of $99,876.00. Following the completion of the transaction, the director directly owned 329,438 shares in the company, valued at $3,343,795.70. This represents a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On PennantPark Floating Rate Capital
A number of large investors have recently added to or reduced their stakes in PFLT. Cambridge Investment Research Advisors Inc. grew its holdings in PennantPark Floating Rate Capital by 17.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,048 shares of the asset manager's stock worth $661,000 after acquiring an additional 8,830 shares during the period. Sound Income Strategies LLC grew its stake in PennantPark Floating Rate Capital by 8.0% in the 1st quarter. Sound Income Strategies LLC now owns 3,585,201 shares of the asset manager's stock valued at $40,118,000 after buying an additional 265,162 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PennantPark Floating Rate Capital in the 4th quarter valued at approximately $283,000. Janney Montgomery Scott LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 6.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 43,716 shares of the asset manager's stock worth $489,000 after acquiring an additional 2,579 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of PennantPark Floating Rate Capital by 20.4% during the 4th quarter. LPL Financial LLC now owns 432,287 shares of the asset manager's stock worth $4,725,000 after acquiring an additional 73,365 shares during the last quarter. Institutional investors and hedge funds own 19.77% of the company's stock.
PennantPark Floating Rate Capital Company Profile
(
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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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