BidaskClub lowered shares of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) from a hold rating to a sell rating in a research note released on Thursday.

A number of other research firms also recently weighed in on PFLT. Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a sell rating to a hold rating in a research note on Friday, May 12th. Ladenburg Thalmann Financial Services upgraded shares of PennantPark Floating Rate Capital from a neutral rating to a buy rating and set a $14.75 price target on the stock in a research note on Thursday, May 11th. Finally, Keefe, Bruyette & Woods upgraded shares of PennantPark Floating Rate Capital from a market perform rating to an outperform rating and raised their price target for the company from $15.00 to $15.50 in a research note on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $14.79.

PennantPark Floating Rate Capital (PFLT) traded up 0.4866% on Thursday, hitting $14.2892. 46,914 shares of the stock were exchanged. The company has a 50 day moving average of $14.18 and a 200 day moving average of $13.96. PennantPark Floating Rate Capital has a one year low of $12.21 and a one year high of $14.45.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last posted its quarterly earnings results on Tuesday, May 9th. The asset manager reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. PennantPark Floating Rate Capital had a net margin of 87.29% and a return on equity of 7.45%. The company had revenue of $13.22 million during the quarter, compared to analyst estimates of $14.43 million. On average, equities analysts predict that PennantPark Floating Rate Capital will post $1.10 EPS for the current fiscal year.

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The business also recently declared a monthly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Thursday, July 20th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Tuesday, July 18th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 8.02%. PennantPark Floating Rate Capital’s payout ratio is currently 68.26%.

Large investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in PennantPark Floating Rate Capital by 44.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 9,379 shares of the asset manager’s stock valued at $132,000 after buying an additional 2,868 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in PennantPark Floating Rate Capital during the first quarter valued at approximately $169,000. Raymond James Financial Services Advisors Inc. increased its stake in PennantPark Floating Rate Capital by 16.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 14,133 shares of the asset manager’s stock valued at $197,000 after buying an additional 2,000 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in PennantPark Floating Rate Capital during the first quarter valued at approximately $240,000. Finally, Wedbush Securities Inc. increased its stake in PennantPark Floating Rate Capital by 18.0% in the first quarter. Wedbush Securities Inc. now owns 17,363 shares of the asset manager’s stock valued at $242,000 after buying an additional 2,653 shares in the last quarter. Institutional investors and hedge funds own 34.44% of the company’s stock.

PennantPark Floating Rate Capital Company Profile

PennantPark Floating Rate Capital Ltd. is a business development company. The Company is a closed-end, externally managed and non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing primarily in floating rate loans and other investments made to the United States middle-market companies.

Analyst Recommendations for PennantPark Floating Rate Capital (NASDAQ:PFLT)

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