Pennantpark Floating Rate Capital Ltd (PFLT) Sees Large Volume Increase
Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) saw unusually-strong trading volume on Wednesday . Approximately 78,581 shares traded hands during mid-day trading, an increase of 7% from the previous session’s volume of 73,639 shares.The stock last traded at $12.60 and had previously closed at $12.64.
Separately, Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Thursday, April 14th. Two equities research analysts have rated the stock with a hold rating and three have given 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 has a 50-day moving average of $12.42 and a 200 day moving average of $11.70.
The firm also recently declared a dividend, which will be paid on Monday, August 1st. Investors of record on Wednesday, July 20th will be given a dividend of $0.095 per share. The ex-dividend date is Monday, July 18th.
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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