PennantPark Floating Rate Capital (NASDAQ:PFLT) Sees Large Volume Increase

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLTGet Free Report) shares saw an uptick in trading volume on Thursday . 2,273,606 shares traded hands during mid-day trading, an increase of 224% from the previous session’s volume of 701,512 shares.The stock last traded at $11.48 and had previously closed at $11.59.

Analysts Set New Price Targets

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

Read Our Latest Stock Analysis on PennantPark Floating Rate Capital

PennantPark Floating Rate Capital Stock Performance

The stock has a market cap of $768.06 million, a price-to-earnings ratio of 7.78 and a beta of 1.66. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.19 and a current ratio of 0.36. The company’s 50 day simple moving average is $11.33 and its 200 day simple moving average is $11.34.

PennantPark Floating Rate Capital (NASDAQ:PFLTGet Free Report) last released its earnings results on Wednesday, February 7th. The asset manager reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. The firm had revenue of $37.97 million for the quarter, compared to analysts’ expectations of $35.03 million. PennantPark Floating Rate Capital had a net margin of 55.99% and a return on equity of 11.44%. On average, equities research analysts anticipate that PennantPark Floating Rate Capital Ltd. will post 1.29 earnings per share for the current year.

PennantPark Floating Rate Capital Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, May 14th. This represents a $1.23 annualized dividend and a dividend yield of 10.69%. PennantPark Floating Rate Capital’s dividend payout ratio is currently 83.11%.

Hedge Funds Weigh In On PennantPark Floating Rate Capital

Hedge funds have recently made changes to their positions in the business. Cape Investment Advisory Inc. acquired a new position in shares of PennantPark Floating Rate Capital in the fourth quarter worth about $29,000. Global Retirement Partners LLC boosted its holdings in shares of PennantPark Floating Rate Capital by 107.8% during the first 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 period. CFO4Life Group LLC acquired a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth approximately $112,000. Creekmur Asset Management LLC acquired a new stake in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $125,000. Finally, Calton & Associates Inc. acquired a new stake in shares of PennantPark Floating Rate Capital during the third quarter worth approximately $130,000. Institutional investors and hedge funds own 19.77% of the company’s stock.

About PennantPark Floating Rate Capital

(Get Free Report)

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.

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