Pennantpark Floating Rate Capital (NASDAQ:PFLT) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Other research analysts also recently issued reports about the company. Maxim Group boosted their price objective on Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the company a “buy” rating in a research note on Friday, August 10th. JPMorgan Chase & Co. boosted their price objective on Pennantpark Floating Rate Capital from $7.50 to $8.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Zacks Investment Research upgraded Pennantpark Floating Rate Capital from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, August 14th. Finally, ValuEngine upgraded Pennantpark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Pennantpark Floating Rate Capital currently has a consensus rating of “Hold” and an average price target of $13.13.

Shares of Pennantpark Floating Rate Capital stock traded down $0.14 during trading hours on Tuesday, reaching $13.00. 3,336 shares of the stock traded hands, compared to its average volume of 170,911. The company has a market cap of $502.49 million, a P/E ratio of 11.71 and a beta of 0.52. Pennantpark Floating Rate Capital has a one year low of $12.00 and a one year high of $14.32.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its quarterly earnings results on Wednesday, November 14th. The asset manager reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. The business had revenue of $21.30 million during the quarter, compared to the consensus estimate of $19.92 million. Pennantpark Floating Rate Capital had a return on equity of 7.86% and a net margin of 48.08%. On average, equities research analysts forecast that Pennantpark Floating Rate Capital will post 1.05 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the stock. LGT Capital Partners LTD. lifted its holdings in Pennantpark Floating Rate Capital by 28.3% in the 3rd quarter. LGT Capital Partners LTD. now owns 770,000 shares of the asset manager’s stock worth $10,126,000 after purchasing an additional 170,000 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Pennantpark Floating Rate Capital in the 2nd quarter worth approximately $1,787,000. Sound Income Strategies LLC lifted its holdings in Pennantpark Floating Rate Capital by 12.6% in the 3rd quarter. Sound Income Strategies LLC now owns 1,043,505 shares of the asset manager’s stock worth $13,722,000 after purchasing an additional 117,138 shares in the last quarter. Standard Life Aberdeen plc purchased a new position in Pennantpark Floating Rate Capital in the 3rd quarter worth approximately $278,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Pennantpark Floating Rate Capital in the 3rd quarter worth approximately $266,000. Institutional investors own 33.81% of the company’s stock.

About Pennantpark Floating Rate Capital

PennantPark Floating Rate Capital Ltd. is a business development company. It seeks to make secondary direct, debt, equity, and loan investments. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies. It primarily invests in the United States and to a limited extent non-U.S.

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