November 25, 2016 - By Nellie Frank
PennantPark Floating Rate Capital (NASDAQ:PFLT) had its stock rating noted as Buy by analysts at Maxim Group. Maxim Group currently has a $14.50 PT on the $361.11M market cap company or 6.77% upside potential. This was released in a research note on Friday morning.
Out of 4 analysts covering PennantPark Floating Rate Capital (NASDAQ:PFLT), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. $14.25 is the highest target while $13 is the lowest. The $13.90 average target is 2.36% above today’s ($13.58) stock price. PennantPark Floating Rate Capital has been the topic of 5 analyst reports since August 26, 2015 according to StockzIntelligence Inc. Zacks upgraded it to “Hold” rating and $13 target price in Wednesday, August 26 report. The firm earned “Market Perform” rating on Wednesday, August 26 by Wood. Maxim Group maintained it with “Buy” rating and $14 target price in Monday, November 16 report.
About 38,021 shares traded hands. Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) has risen 11.29% since April 22, 2016 and is uptrending. It has outperformed by 5.88% the S&P500.
Insitutional Activity: The institutional sentiment increased to 1.57 in Q2 2016. Its up 0.41, from 1.16 in 2016Q1. The ratio increased, as 8 funds sold all Pennantpark Floating Rate Capital Ltd shares owned while 17 reduced positions. 8 funds bought stakes while 21 increased positions. They now own 6.80 million shares or 6.54% more from 6.39 million shares in 2016Q1.
The Arizona-based Cue Finance has invested 1.65% in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT). Morgan Stanley has invested 0% of its portfolio in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT). Yorktown Management And Rech has invested 0.16% of its portfolio in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT). Muzinich And Com has 223,902 shares for 1.27% of their US portfolio. Boyle Capital Management Ltd Liability Company reported 54,169 shares or 0.82% of all its holdings. Bbr Ltd Company has invested 0.05% of its portfolio in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT). Jbf Cap Incorporated accumulated 6,245 shares or 0.01% of the stock. Goldman Sachs Gru last reported 0% of its portfolio in the stock. Credit Suisse Ag accumulated 0% or 88,103 shares. Plante Moran Financial Advsr Ltd Liability accumulated 130 shares or 0% of the stock. Advsr Asset Mgmt Incorporated has 703,081 shares for 0.14% of their US portfolio. Creative Planning owns 5,939 shares or 0% of their US portfolio. Brown Brothers Harriman last reported 0% of its portfolio in the stock. Yakira Capital holds 0.4% or 85,210 shares in its portfolio. Ubs Asset Mgmt Americas accumulated 0% or 47,702 shares.
PennantPark Floating Rate Capital Ltd. is a business development company. The company has a market cap of $361.11 million. The Firm is a closed-end, externally managed, non-diversified investment company. It has a 10.84 P/E ratio. 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.
More recent Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) news were published by: Nasdaq.com which released: “PennantPark Floating Rate Capital Ltd. (PFLT) Ex-Dividend Date Scheduled for …” on November 15, 2016. Also Prnewswire.com published the news titled: “PennantPark Floating Rate Capital Ltd. and MCG Capital Corporation Announce …” on August 18, 2015. Prnewswire.com‘s news article titled: “Stockholders of PennantPark Floating Rate Capital Ltd. and MCG Capital …” with publication date: August 14, 2015 was also an interesting one.
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By Nellie Frank