Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) had its price target boosted by research analysts at Maxim Group from $14.00 to $14.50 in a research note issued to investors on Friday. The firm presently has a “buy” rating on the stock. Maxim Group’s price target suggests a potential upside of 8.13% from the company’s current price.

Separately, Zacks Investment Research downgraded Pennantpark Floating Rate Capital from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.38.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) opened at 13.41 on Friday. The stock has a 50 day moving average price of $13.15 and a 200 day moving average price of $12.76. The firm has a market cap of $358.45 million and a price-to-earnings ratio of 17.93. Pennantpark Floating Rate Capital has a 52 week low of $9.73 and a 52 week high of $13.65.

The company also recently disclosed a dividend, which will be paid on Thursday, December 1st. Investors of record on Friday, November 18th will be paid a $0.095 dividend. The ex-dividend date of this dividend is Wednesday, November 16th.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. purchased a new position in Pennantpark Floating Rate Capital during the second quarter valued at $107,000. GAM Holding AG purchased a new position in Pennantpark Floating Rate Capital during the third quarter valued at $119,000. Royal Bank of Canada increased its position in Pennantpark Floating Rate Capital by 6.5% in the second quarter. Royal Bank of Canada now owns 11,252 shares of the company’s stock valued at $140,000 after buying an additional 691 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Pennantpark Floating Rate Capital during the third quarter valued at $175,000. Finally, Wells Fargo & Company MN increased its position in Pennantpark Floating Rate Capital by 3.1% in the third quarter. Wells Fargo & Company MN now owns 32,833 shares of the company’s stock valued at $434,000 after buying an additional 990 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: “Pennantpark Floating Rate Capital Ltd (PFLT) Price Target Raised to $14.50” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another site, it was illegally stolen and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/25/pennantpark-floating-rate-capital-ltd-pflt-price-target-raised-to-14-50.html.

Pennantpark Floating Rate Capital Company Profile

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.

5 Day Chart for NASDAQ:PFLT

Receive News & Stock Ratings for Pennantpark Floating Rate Capital Ltd Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital Ltd and related stocks with our FREE daily email newsletter.