Pennantpark Floating Rate Capital Ltd (PFLT) Reaches New 52-Week High at $13.13
Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT)’s share price reached 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 downgraded shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $14.00.
The firm has a 50-day moving average of $12.68 and a 200-day moving average of $11.95.
The company also recently disclosed a dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 19th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Wednesday, August 17th.
An institutional investor recently raised its position in Pennantpark Floating Rate Capital stock. West Family Investments Inc. boosted its position in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) by 47.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 filing with the SEC.
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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