Pennantpark Floating Rate Capital Ltd (PFLT) Reaches New 12-Month High at $13.13
Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) hit a new 52-week high on Monday . The stock traded as high as $13.13 and last traded at $13.04, with a volume of 73,691 shares traded. The stock had previously closed at $12.99.
Separately, Zacks Investment Research lowered shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Pennantpark Floating Rate Capital presently has a consensus rating of “Buy” and a consensus price target of $14.00.
The stock has a 50 day moving average of $12.63 and a 200-day moving average of $11.90.
The company also recently disclosed a dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 19th will be given 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. increased its position in shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 47.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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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