PennantPark Floating Rate Capital (NASDAQ:PFLT) Rating Lowered to Sell at StockNews.com

PennantPark Floating Rate Capital (NASDAQ:PFLT) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Separately, Raymond James assumed coverage on shares of PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating on the stock.

PennantPark Floating Rate Capital Stock Performance

PFLT traded down $0.02 during trading on Wednesday, hitting $11.10. The company’s stock had a trading volume of 1,958,348 shares, compared to its average volume of 911,265. The firm has a market cap of $975.87 million, a PE ratio of 7.93 and a beta of 1.67. PennantPark Floating Rate Capital has a one year low of $10.28 and a one year high of $12.02. The business’s 50 day simple moving average is $11.14 and its 200-day simple moving average is $11.22. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Several institutional investors have recently bought and sold shares of the stock. PharVision Advisers LLC purchased a new position in PennantPark Floating Rate Capital during the fourth quarter valued at $170,000. Mpwm Advisory Solutions LLC purchased a new position in PennantPark Floating Rate Capital during the fourth quarter valued at $55,000. Two Sigma Advisers LP grew its stake in PennantPark Floating Rate Capital by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 716,775 shares of the asset manager’s stock valued at $7,834,000 after acquiring an additional 15,778 shares in the last quarter. Tidal Investments LLC grew its stake in PennantPark Floating Rate Capital by 2.3% during the fourth quarter. Tidal Investments LLC now owns 103,334 shares of the asset manager’s stock valued at $1,129,000 after acquiring an additional 2,322 shares in the last quarter. Finally, Millennium Management LLC grew its stake in PennantPark Floating Rate Capital by 94.4% during the fourth quarter. Millennium Management LLC now owns 646,741 shares of the asset manager’s stock valued at $7,069,000 after acquiring an additional 314,064 shares in the last quarter. 19.77% of the stock is owned by hedge funds and other 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.