PennantPark Floating Rate Capital (NASDAQ:PFLT) Shares Pass Above Two Hundred Day Moving Average of $11.17

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Free Report)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.17 and traded as high as $11.31. PennantPark Floating Rate Capital shares last traded at $11.25, with a volume of 309,015 shares.

Analysts Set New Price Targets

Separately, JMP Securities lifted their price objective on PennantPark Floating Rate Capital from $12.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Thursday, January 18th.

Read Our Latest Stock Report on PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Stock Up 0.5 %

The business’s fifty day simple moving average is $11.37 and its 200 day simple moving average is $11.17. The stock has a market cap of $693.34 million, a price-to-earnings ratio of 10.04 and a beta of 1.69. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.34.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $37.97 million during the quarter, compared to analysts’ expectations of $35.03 million. PennantPark Floating Rate Capital had a return on equity of 11.83% and a net margin of 43.40%. Equities analysts forecast that PennantPark Floating Rate Capital Ltd. will post 1.26 earnings per share for the current fiscal year.

PennantPark Floating Rate Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 10.93%. The ex-dividend date is Friday, March 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 109.82%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cape Investment Advisory Inc. bought a new position in PennantPark Floating Rate Capital during the 4th quarter worth about $29,000. Quarry LP bought a new position in shares of PennantPark Floating Rate Capital during the second quarter worth about $34,000. Castleview Partners LLC acquired a new stake in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $38,000. Comerica Bank bought a new stake in PennantPark Floating Rate Capital in the 3rd quarter valued at approximately $61,000. Finally, Citigroup Inc. bought a new stake in PennantPark Floating Rate Capital in the 2nd quarter valued at approximately $75,000. 19.77% of the stock is currently owned by institutional investors and hedge funds.

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.

Featured Articles

Receive News & Ratings for PennantPark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennantPark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.