PennantPark Floating Rate Capital (NASDAQ:PFLT) Lowered to “Sell” Rating by 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 research report issued to clients and investors on Wednesday.

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

PennantPark Floating Rate Capital Price Performance

Shares of PFLT opened at $11.12 on Wednesday. The firm has a market capitalization of $977.63 million, a price-to-earnings ratio of 7.94 and a beta of 1.67. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.15 and a current ratio of 0.15. PennantPark Floating Rate Capital has a one year low of $10.28 and a one year high of $12.02. The stock’s fifty day moving average is $11.15 and its 200-day moving average is $11.22.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. PharVision Advisers LLC acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $170,000. Mpwm Advisory Solutions LLC acquired a new position in shares of PennantPark Floating Rate Capital in the 4th quarter valued at $55,000. Two Sigma Advisers LP boosted its position in shares of PennantPark Floating Rate Capital by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 716,775 shares of the asset manager’s stock valued at $7,834,000 after purchasing an additional 15,778 shares during the period. Tidal Investments LLC boosted its position in shares of PennantPark Floating Rate Capital by 2.3% in the 4th quarter. Tidal Investments LLC now owns 103,334 shares of the asset manager’s stock valued at $1,129,000 after purchasing an additional 2,322 shares during the period. Finally, Millennium Management LLC boosted its position in shares of PennantPark Floating Rate Capital by 94.4% in the 4th quarter. Millennium Management LLC now owns 646,741 shares of the asset manager’s stock valued at $7,069,000 after purchasing an additional 314,064 shares during the period. 19.77% of the stock is owned by institutional investors and hedge funds.

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.