BidaskClub upgraded shares of Pennantpark Floating Rate Capital (NASDAQ:PFLT) from a sell rating to a hold rating in a research report released on Friday.

Several other analysts have also recently weighed in on PFLT. Zacks Investment Research raised 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 Tuesday, September 5th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $15.50 price target on shares of Pennantpark Floating Rate Capital in a report on Thursday, August 31st. ValuEngine raised Pennantpark Floating Rate Capital from a hold rating to a buy rating in a report on Friday, December 1st. Finally, Maxim Group reiterated a buy rating and set a $14.75 price objective on shares of Pennantpark Floating Rate Capital in a research 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 stock. Pennantpark Floating Rate Capital presently has a consensus rating of Buy and an average target price of $15.30.

Shares of Pennantpark Floating Rate Capital (NASDAQ PFLT) opened at $13.88 on Friday. The stock has a market capitalization of $529.53, a PE ratio of 13.09 and a beta of 0.59. Pennantpark Floating Rate Capital has a 1-year low of $13.24 and a 1-year 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 the consensus estimate of $0.34 by ($0.02). Pennantpark Floating Rate Capital had a net margin of 61.05% and a return on equity of 7.66%. The business had revenue of $18.45 million during the quarter, compared to analysts’ expectations of $19.40 million. During the same period in the previous year, the business earned $0.31 EPS. The business’s revenue was up 19.8% on a year-over-year basis. analysts anticipate that Pennantpark Floating Rate Capital will post 1.08 earnings per share for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Tuesday, December 26th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $1.14 annualized dividend and a dividend yield of 8.21%. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is presently 107.55%.

Several institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. bought a new position in Pennantpark Floating Rate Capital during the 3rd quarter worth approximately $147,000. CIBC World Markets Inc. bought a new position in Pennantpark Floating Rate Capital during the 2nd quarter worth approximately $202,000. GSA Capital Partners LLP bought a new position in Pennantpark Floating Rate Capital during the 2nd quarter worth approximately $207,000. First Allied Advisory Services Inc. grew its position in Pennantpark Floating Rate Capital by 1.6% during the 2nd quarter. First Allied Advisory Services Inc. now owns 19,160 shares of the asset manager’s stock worth $269,000 after acquiring an additional 299 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC grew its position in Pennantpark Floating Rate Capital by 1.9% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 20,226 shares of the asset manager’s stock worth $285,000 after acquiring an additional 373 shares during the last quarter. Hedge funds and other institutional investors own 25.91% of the company’s stock.

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About Pennantpark Floating Rate Capital

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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