PennantPark Floating Rate Capital (NASDAQ:PFLT) Upgraded to Hold at StockNews.com

PennantPark Floating Rate Capital (NASDAQ:PFLT) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued research reports about the company. Raymond James began coverage on PennantPark Floating Rate Capital in a report on Friday, December 20th. They set a “market perform” rating on the stock. Keefe, Bruyette & Woods lowered their price target on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a “market perform” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, PennantPark Floating Rate Capital currently has a consensus rating of “Hold” and a consensus target price of $11.67.

PennantPark Floating Rate Capital Stock Up 0.1 %

PennantPark Floating Rate Capital stock opened at $9.53 on Friday. The company’s 50-day moving average price is $10.91 and its two-hundred day moving average price is $11.10. The stock has a market cap of $837.78 million, a price-to-earnings ratio of 6.80 and a beta of 1.30. PennantPark Floating Rate Capital has a 52 week low of $8.82 and a 52 week high of $12.02. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.57.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of PennantPark Floating Rate Capital during the 3rd quarter valued at $39,000. Quarry LP raised its position in shares of PennantPark Floating Rate Capital by 190.2% during the fourth quarter. Quarry LP now owns 3,674 shares of the asset manager’s stock worth $40,000 after purchasing an additional 2,408 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter valued at $55,000. Investment Partners LTD. purchased a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter valued at $109,000. Finally, Sigma Planning Corp acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $119,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

PennantPark Floating Rate Capital Company Profile

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.