PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) has been assigned a $16.00 price objective by Keefe, Bruyette & Woods in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 9.44% from the stock’s current price.

PFLT has been the topic of several other reports. Zacks Investment Research upgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, September 13th. BidaskClub downgraded shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Maxim Group reiterated a “buy” rating and set a $14.75 price target on shares of PennantPark Floating Rate Capital in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $15.08.

Shares of PennantPark Floating Rate Capital (NASDAQ PFLT) opened at 14.61 on Thursday. The stock’s 50 day moving average is $14.32 and its 200-day moving average is $14.10. PennantPark Floating Rate Capital has a 12-month low of $12.21 and a 12-month high of $14.64.

PennantPark Floating Rate Capital (NASDAQ:PFLT) last issued its quarterly earnings results on Tuesday, August 8th. The asset manager reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). The firm had revenue of $15.19 million for the quarter, compared to the consensus estimate of $15.17 million. PennantPark Floating Rate Capital had a net margin of 73.28% and a return on equity of 7.26%. Equities analysts expect that PennantPark Floating Rate Capital will post $1.15 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership purchased a new stake in PennantPark Floating Rate Capital in the 2nd quarter valued at about $1,764,000. Shelton Capital Management boosted its position in PennantPark Floating Rate Capital by 102.9% in the 2nd quarter. Shelton Capital Management now owns 69,000 shares of the asset manager’s stock valued at $974,000 after buying an additional 35,000 shares during the period. Punch & Associates Investment Management Inc. boosted its position in PennantPark Floating Rate Capital by 1.2% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 763,910 shares of the asset manager’s stock valued at $10,779,000 after buying an additional 9,074 shares during the period. Royal Bank of Canada boosted its position in PennantPark Floating Rate Capital by 12.2% in the 2nd quarter. Royal Bank of Canada now owns 55,473 shares of the asset manager’s stock valued at $783,000 after buying an additional 6,019 shares during the period. Finally, Optimum Investment Advisors boosted its position in PennantPark Floating Rate Capital by 17.7% in the 2nd quarter. Optimum Investment Advisors now owns 54,186 shares of the asset manager’s stock valued at $765,000 after buying an additional 8,147 shares during the period. 31.56% of the stock is owned by institutional investors.

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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