PennantPark Floating Rate Capital (NASDAQ:PFLT) Sees Strong Trading Volume

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) shares saw an uptick in trading volume on Thursday . 4,352,863 shares were traded during trading, an increase of 479% from the previous session’s volume of 751,945 shares.The stock last traded at $11.30 and had previously closed at $11.35.

Analyst Ratings Changes

Separately, JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of PennantPark Floating Rate Capital in a report on Tuesday, March 26th.

PennantPark Floating Rate Capital Stock Performance

The firm has a fifty day moving average of $11.33 and a 200-day moving average of $11.39. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.71. The firm has a market cap of $750.71 million, a P/E ratio of 7.60 and a beta of 1.66.

PennantPark Floating Rate Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a $0.1025 dividend. This represents a $1.23 annualized dividend and a dividend yield of 10.93%. The ex-dividend date of this dividend is Tuesday, May 14th. PennantPark Floating Rate Capital’s dividend payout ratio (DPR) is presently 83.11%.

Institutional Investors Weigh In On PennantPark Floating Rate Capital

Institutional investors and hedge funds have recently modified their holdings of the business. Cape Investment Advisory Inc. bought a new position in PennantPark Floating Rate Capital in the fourth quarter valued at approximately $29,000. Global Retirement Partners LLC boosted its position in shares of PennantPark Floating Rate Capital by 107.8% in the 1st quarter. Global Retirement Partners LLC now owns 3,259 shares of the asset manager’s stock worth $37,000 after purchasing an additional 1,691 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth $125,000. Calton & Associates Inc. bought a new stake in PennantPark Floating Rate Capital in the third quarter valued at about $130,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in PennantPark Floating Rate Capital in the third quarter valued at about $130,000. 19.77% of the stock is owned by institutional investors.

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.