Shares of PennantPark Floating Rate Capital Ltd. (NYSE:PFLT – Get Free Report) have received an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.80.
A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a research note on Friday, May 8th. Truist Financial cut their target price on PennantPark Floating Rate Capital from $10.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, May 19th. Wall Street Zen raised PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, March 28th. Keefe, Bruyette & Woods cut their target price on PennantPark Floating Rate Capital from $10.50 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Finally, Citizens Jmp lowered their price target on PennantPark Floating Rate Capital from $11.00 to $10.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd.
Read Our Latest Stock Analysis on PFLT
Insider Buying and Selling
Institutional Trading of PennantPark Floating Rate Capital
A number of large investors have recently made changes to their positions in PFLT. Marshall Wace LLP increased its position in shares of PennantPark Floating Rate Capital by 42.9% in the 3rd quarter. Marshall Wace LLP now owns 2,057,399 shares of the company’s stock valued at $18,290,000 after buying an additional 617,657 shares in the last quarter. Truffle Hound Capital LLC bought a new stake in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $5,562,000. Millennium Management LLC increased its position in shares of PennantPark Floating Rate Capital by 85.0% in the 1st quarter. Millennium Management LLC now owns 1,196,752 shares of the company’s stock valued at $13,392,000 after buying an additional 550,011 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of PennantPark Floating Rate Capital by 12.4% in the 4th quarter. Sound Income Strategies LLC now owns 4,643,958 shares of the company’s stock valued at $44,257,000 after buying an additional 512,528 shares in the last quarter. Finally, Altshuler Shaham Ltd increased its position in shares of PennantPark Floating Rate Capital by 44.1% in the 4th quarter. Altshuler Shaham Ltd now owns 1,320,156 shares of the company’s stock valued at $12,238,000 after buying an additional 404,117 shares in the last quarter. Institutional investors own 19.77% of the company’s stock.
PennantPark Floating Rate Capital Stock Performance
PFLT stock opened at $8.25 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.18 and a quick ratio of 0.18. The company has a 50 day moving average price of $8.45 and a 200 day moving average price of $8.84. PennantPark Floating Rate Capital has a fifty-two week low of $7.68 and a fifty-two week high of $10.88. The stock has a market capitalization of $818.07 million, a PE ratio of 13.30 and a beta of 0.78.
PennantPark Floating Rate Capital (NYSE:PFLT – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $44.81 million during the quarter. PennantPark Floating Rate Capital had a return on equity of 9.95% and a net margin of 23.08%. Analysts forecast that PennantPark Floating Rate Capital will post 1.08 EPS for the current year.
PennantPark Floating Rate Capital Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a $0.1025 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.9%. The ex-dividend date is Friday, May 15th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is currently 198.39%.
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. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.
Featured Stories
- Five stocks we like better than PennantPark Floating Rate Capital
- 3 Stocks Rallying on Micron’s Price Boost: Substance or Hype?
- Snowflake and the Snowballing Impact of its AI Flywheel
- AI’s Biggest Bottleneck Could Make These 2 Stocks Soar
- These 3 Beaten-Down Stocks Just Saw $25 Million in Insider Buying
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.
