Pennantpark Floating Rate Capital Ltd (PFLT) Sees Unusually-High Trading Volume
Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) saw strong trading volume on Thursday . 109,054 shares changed hands during trading, an increase of 49% from the previous session’s volume of 73,427 shares.The stock last traded at $12.97 and had previously closed at $12.94.
Separately, Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “strong-buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, July 6th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Pennantpark Floating Rate Capital presently has a consensus rating of “Buy” and a consensus target price of $14.00.
The firm’s 50-day moving average is $12.63 and its 200 day moving average is $11.89.
The business also recently disclosed a dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 19th will be paid a dividend of $0.095 per share. The ex-dividend date is Wednesday, August 17th.
A hedge fund recently raised its stake in Pennantpark Floating Rate Capital stock. West Family Investments Inc. raised its stake in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 47.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 263,584 shares of the company’s stock after buying an additional 85,200 shares during the period. West Family Investments Inc.’s holdings in Pennantpark Floating Rate Capital were worth $2,965,000 as of its most recent SEC filing.
PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed, non-diversified investment company. The Company’s objective is to generate current income and capital appreciation by investing primarily in loans bearing a variable-rate of interest, or Floating Rate Loans, and other investments made to the United States middle-market companies.
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