November 25, 2016 - By Michael Collier
Maxim Group have a $14.50 TP on the stock. The TP would indicate a potential upside of 8.13% from PennantPark Floating Rate Capital (NASDAQ:PFLT)‘s previous close. This rating was revealed to investors in an analyst report on 25 November.
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 3.65% above today’s ($13.41) stock price. PennantPark Floating Rate Capital has been the topic of 5 analyst reports since August 26, 2015 according to StockzIntelligence Inc. The stock of Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) has “Market Perform” rating given on Wednesday, August 26 by Wood. The company was upgraded on Wednesday, August 26 by Zacks. The stock has “Buy” rating given by Maxim Group on Monday, November 16.
The stock closed at $13.41 during the last session. It is down 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 improved, 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.
Fincl Bank Of Montreal Can last reported 1,003 shares in the company. Hightower Ltd last reported 97,896 shares in the company. Tower Rech Capital Limited Company (Trc) accumulated 0% or 796 shares. Allsquare Wealth Mgmt Ltd Liability Corporation holds 0.27% or 21,800 shares in its portfolio. Blackrock Group Ltd holds 0% or 143,386 shares in its portfolio. Ubs Asset Management Americas Incorporated accumulated 0% or 47,702 shares. Jpmorgan Chase Co accumulated 16,000 shares or 0% of the stock. Moreover, Stifel has 0% invested in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) for 27,289 shares. Confluence Invest Limited Liability Com has 152,838 shares for 0.05% of their US portfolio. Greenwich Mgmt has invested 0.73% of its portfolio in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT). The New York-based Silver Capital Management Ltd Liability Corp has invested 0.99% in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT). Manufacturers Life Insur The holds 0% of its portfolio in Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) for 138,870 shares. Punch Associates Investment Management, a Minnesota-based fund reported 917,383 shares. Kayne Anderson Capital Advisors Ltd Partnership has 63,500 shares for 0.01% of their US portfolio. Polar Cap Llp, a United Kingdom-based fund reported 472,500 shares.
PennantPark Floating Rate Capital Ltd. is a business development company. The company has a market cap of $356.59 million. The Firm is a closed-end, externally managed, non-diversified investment company. It has a 10.7 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 news for Pennantpark Floating Rate Capital Ltd (NASDAQ:PFLT) were recently published by: Nasdaq.com, which released: “PennantPark Floating Rate Capital Ltd. (PFLT) Ex-Dividend Date Scheduled for …” on November 15, 2016. Prnewswire.com‘s article titled: “PennantPark Floating Rate Capital Ltd. and MCG Capital Corporation Announce …” and published on August 18, 2015 is yet another important article.
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