PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Given Average Rating of "Buy" by Brokerages

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT - Get Free Report) has been given an average recommendation of "Buy" by the seven ratings firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.50.A number of brokerages have recently commented on PFLT. Maxim Group set a $10.50 price target on PennantPark Floating Rate Capital in a report on Wednesday. UBS Group dropped their target price on shares of PennantPark Floating Rate Capital from $10.50 to $9.50 and set a "neutral" rating on the stock in a research report on Tuesday, October 14th.Read Our Latest Stock Analysis on PennantPark Floating Rate CapitalPennantPark Floating Rate Capital Stock Down 0.8%Shares of PennantPark Floating Rate Capital stock traded down $0.08 on Wednesday, hitting $9.03. 889,511 shares of the company traded hands, compared to its average volume of 1,102,512. PennantPark Floating Rate Capital has a 12-month low of $8.40 and a 12-month high of $11.46. The company has a quick ratio of 0.15, a current ratio of 0.15 and a debt-to-equity ratio of 0.57. The company has a market cap of $895.44 million, a PE ratio of 6.45 and a beta of 0.76. The company has a 50-day moving average price of $9.38 and a 200 day moving average price of $9.49. PennantPark Floating Rate Capital Announces DividendThe company also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.1025 per share. This represents a c) annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend is Tuesday, February 17th. PennantPark Floating Rate Capital's dividend payout ratio (DPR) is presently 361.76%. Institutional Trading of PennantPark Floating Rate CapitalA number of large investors have recently bought and sold shares of PFLT. Allworth Financial LP increased its position in PennantPark Floating Rate Capital by 1,603.7% in the 2nd quarter. Allworth Financial LP now owns 2,777 shares of the asset manager's stock valued at $29,000 after acquiring an additional 2,614 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of PennantPark Floating Rate Capital during the fourth quarter worth approximately $33,000. Quarry LP bought a new stake in shares of PennantPark Floating Rate Capital during the third quarter valued at approximately $36,000. State of Alaska Department of Revenue acquired a new stake in shares of PennantPark Floating Rate Capital in the third quarter valued at approximately $41,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of PennantPark Floating Rate Capital in the second quarter valued at approximately $41,000. 19.77% of the stock is currently owned by institutional investors. About PennantPark Floating Rate Capital (Get Free Report)PennantPark Floating Rate Capital, Inc NASDAQ: PFLT is a closed-end management investment company organized as a business development company (BDC) under the Investment Company Act of 1940. The firm's primary objective is to generate current income and, secondarily, capital appreciation for its shareholders through debt and equity investments in middle-market companies. PennantPark Floating Rate Capital focuses on floating-rate instruments to help mitigate interest-rate risk and align cash flows with its dividend strategy. The company's portfolio is concentrated in senior secured loans, second-lien debt, mezzanine securities and, from time to time, equity investments.Further ReadingFive stocks we like better than PennantPark Floating Rate CapitalNvidia CEO Issues Bold Tesla CallYour Bank Account Is No Longer SafeNEW LAW: Congress Approves Setup For Digital Dollar?Buy this Gold Stock Before May 2026What a Former CIA Agent Knows About the Coming CollapseThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in PennantPark Floating Rate Capital Right Now?Before you consider PennantPark Floating Rate Capital, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PennantPark Floating Rate Capital wasn't on the list.While PennantPark Floating Rate Capital currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here