Raymond James Begins Coverage on PennantPark Floating Rate Capital (NASDAQ:PFLT)

Raymond James began coverage on shares of PennantPark Floating Rate Capital (NASDAQ:PFLT) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set a “market perform” rating on the asset manager’s stock.

Separately, StockNews.com upgraded PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Monday, November 25th.

PennantPark Floating Rate Capital Stock Performance

PFLT stock opened at $10.71 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.18 and a quick ratio of 0.18. PennantPark Floating Rate Capital has a 1 year low of $10.28 and a 1 year high of $12.63. The company has a market cap of $891.39 million, a P/E ratio of 7.49 and a beta of 1.65. The stock’s fifty day moving average price is $11.23 and its 200-day moving average price is $11.33.

Institutional Trading of PennantPark Floating Rate Capital

Several hedge funds have recently bought and sold shares of PFLT. Catalina Capital Group LLC bought a new position in shares of PennantPark Floating Rate Capital during the 2nd quarter valued at approximately $117,000. Allspring Global Investments Holdings LLC boosted its position in shares of PennantPark Floating Rate Capital by 48.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 19,500 shares of the asset manager’s stock worth $225,000 after purchasing an additional 6,400 shares during the period. UMB Bank n.a. purchased a new stake in shares of PennantPark Floating Rate Capital in the second quarter worth $63,000. International Assets Investment Management LLC bought a new stake in shares of PennantPark Floating Rate Capital during the 2nd quarter valued at $41,000. Finally, Commonwealth Equity Services LLC raised its position in shares of PennantPark Floating Rate Capital by 52.6% during the 2nd quarter. Commonwealth Equity Services LLC now owns 38,909 shares of the asset manager’s stock valued at $449,000 after purchasing an additional 13,411 shares during the period. Institutional investors own 19.77% of the company’s stock.

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.