PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) Sees Significant Decline in Short Interest

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 1,220,517 shares, a decrease of 30.9% from the December 15th total of 1,767,323 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average daily volume of 993,549 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 993,549 shares, the short-interest ratio is presently 1.2 days. Approximately 1.2% of the shares of the company are short sold.

PennantPark Floating Rate Capital Stock Performance

Shares of PFLT traded down $0.16 during midday trading on Friday, hitting $9.55. 1,149,270 shares of the stock traded hands, compared to its average volume of 1,003,470. The company’s 50 day simple moving average is $9.27. The company has a market capitalization of $947.55 million, a price-to-earnings ratio of 13.08 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.15 and a quick ratio of 0.15. PennantPark Floating Rate Capital has a 1-year low of $8.40 and a 1-year high of $11.50.

PennantPark Floating Rate Capital (NYSE:PFLT) last issued its quarterly earnings data on Monday, November 24th. The company reported $0.28 earnings per share for the quarter, meeting the consensus estimate of $0.28. The firm had revenue of $68.98 million for the quarter, compared to the consensus estimate of $65.91 million. PennantPark Floating Rate Capital had a net margin of 25.39% and a return on equity of 9.91%.

Wall Street Analyst Weigh In

PFLT has been the subject of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PennantPark Floating Rate Capital in a report on Monday, December 29th. Wall Street Zen cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Saturday, October 11th. Finally, Keefe, Bruyette & Woods raised PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 target price for the company in a report on Monday, October 6th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S. companies. The fund typically invests between $2 million and $20 million. The fund also invests in equity securities, such as preferred stock, common stock, warrants or options received in connection with debt investments or through direct investments.