Pennantpark Floating Rate Capital (NASDAQ:PFLT) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other research firms also recently weighed in on PFLT. Zacks Investment Research downgraded shares of Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a report on Saturday, September 9th. Keefe, Bruyette & Woods set a $16.00 target price on shares of Pennantpark Floating Rate Capital and gave the stock a “buy” rating in a report on Thursday, October 5th. Maxim Group reiterated a “buy” rating and issued a $14.75 target price on shares of Pennantpark Floating Rate Capital in a report on Friday, December 1st. Finally, ValuEngine upgraded shares of Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Pennantpark Floating Rate Capital presently has a consensus rating of “Buy” and a consensus target price of $15.30.

Pennantpark Floating Rate Capital (PFLT) opened at $14.00 on Friday. The firm has a market cap of $533.33, a price-to-earnings ratio of 12.60 and a beta of 0.59. Pennantpark Floating Rate Capital has a twelve month low of $13.24 and a twelve month high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Thursday, November 30th. The asset manager reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). The business had revenue of $18.45 million for the quarter, compared to the consensus estimate of $19.40 million. Pennantpark Floating Rate Capital had a net margin of 58.80% and a return on equity of 9.52%. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.31 EPS. equities analysts forecast that Pennantpark Floating Rate Capital will post 1.08 earnings per share for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in PFLT. Arrowstreet Capital Limited Partnership bought a new position in Pennantpark Floating Rate Capital in the 2nd quarter worth $1,764,000. Stifel Financial Corp raised its holdings in Pennantpark Floating Rate Capital by 151.6% in the 3rd quarter. Stifel Financial Corp now owns 163,704 shares of the asset manager’s stock worth $2,355,000 after acquiring an additional 98,649 shares during the period. Van ECK Associates Corp raised its holdings in Pennantpark Floating Rate Capital by 37.9% in the 2nd quarter. Van ECK Associates Corp now owns 281,802 shares of the asset manager’s stock worth $3,976,000 after acquiring an additional 77,397 shares during the period. Janney Montgomery Scott LLC raised its holdings in Pennantpark Floating Rate Capital by 16.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 492,018 shares of the asset manager’s stock worth $7,124,000 after acquiring an additional 69,422 shares during the period. Finally, Ameriprise Financial Inc. bought a new position in Pennantpark Floating Rate Capital in the 2nd quarter worth $893,000. Hedge funds and other institutional investors own 25.91% of the company’s stock.

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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.

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