PennantPark Floating Rate Capital (NASDAQ:PFLT) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of PennantPark Floating Rate Capital (NASDAQ:PFLTGet Rating) from a hold rating to a sell rating in a research report report published on Wednesday morning.

A number of other research analysts have also weighed in on PFLT. TheStreet lowered shares of PennantPark Floating Rate Capital from a b- rating to a c rating in a research note on Friday, February 11th. Zacks Investment Research raised shares of PennantPark Floating Rate Capital from a hold rating to a buy rating and set a $14.00 target price on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $13.50.

PFLT stock opened at $12.07 on Wednesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.45. PennantPark Floating Rate Capital has a 12-month low of $11.74 and a 12-month high of $14.38. The stock has a market cap of $498.65 million, a price-to-earnings ratio of 11.61 and a beta of 1.73. The business’s 50-day moving average is $13.33 and its 200 day moving average is $13.17.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Rating) last posted its quarterly earnings data on Wednesday, February 9th. The asset manager reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. PennantPark Floating Rate Capital had a return on equity of 9.09% and a net margin of 43.20%. The company had revenue of $26.34 million for the quarter, compared to analysts’ expectations of $21.53 million. During the same period in the previous year, the firm posted $0.26 EPS. As a group, equities analysts forecast that PennantPark Floating Rate Capital will post 1.18 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Wednesday, May 18th will be given a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a dividend yield of 9.44%. The ex-dividend date is Tuesday, May 17th. PennantPark Floating Rate Capital’s payout ratio is presently 109.62%.

Hedge funds have recently added to or reduced their stakes in the company. Total Clarity Wealth Management Inc. raised its position in shares of PennantPark Floating Rate Capital by 53.0% during the 4th quarter. Total Clarity Wealth Management Inc. now owns 4,000 shares of the asset manager’s stock valued at $51,000 after buying an additional 1,385 shares during the period. Bank of America Corp DE raised its position in shares of PennantPark Floating Rate Capital by 17.7% during the 4th quarter. Bank of America Corp DE now owns 5,146 shares of the asset manager’s stock valued at $66,000 after buying an additional 775 shares during the period. Doman Group LLC purchased a new stake in shares of PennantPark Floating Rate Capital during the 4th quarter valued at approximately $136,000. Caxton Associates LP purchased a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at approximately $143,000. Finally, Raymond James & Associates raised its position in shares of PennantPark Floating Rate Capital by 13.6% during the 3rd quarter. Raymond James & Associates now owns 12,635 shares of the asset manager’s stock valued at $162,000 after buying an additional 1,512 shares during the period. 18.16% of the stock is currently owned by hedge funds and other institutional investors.

PennantPark Floating Rate Capital Company Profile (Get Rating)

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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