Pennantpark Floating Rate Capital Ltd (PFLT) Sees Large Volume Increase
Shares of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) saw unusually-high trading volume on Friday . Approximately 106,046 shares traded hands during mid-day trading, an increase of 59% from the previous session’s volume of 66,901 shares.The stock last traded at $12.67 and had previously closed at $12.65.
Separately, Zacks Investment Research upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a report on Thursday, April 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $14.00.
The company has a 50-day moving average of $12.51 and a 200-day moving average of $11.76.
The business also recently declared a dividend, which will be paid on Monday, August 1st. Investors of record on Wednesday, July 20th will be issued a $0.095 dividend. The ex-dividend date of this dividend 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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