Keefe, Bruyette & Woods set a $15.00 target price on Pennantpark Floating Rate Capital (NASDAQ:PFLT) in a research report sent to investors on Friday morning. The brokerage currently has a buy rating on the asset manager’s stock.

A number of other research firms also recently weighed in on PFLT. BidaskClub raised shares of Pennantpark Floating Rate Capital from a sell rating to a hold rating in a research report on Friday, December 22nd. Zacks Investment Research raised shares of Pennantpark Floating Rate Capital from a sell rating to a hold rating in a research report on Tuesday. Maxim Group reaffirmed a buy rating and issued a $14.75 target price on shares of Pennantpark Floating Rate Capital in a research report on Friday, December 1st. Finally, ValuEngine raised shares of Pennantpark Floating Rate Capital from a hold rating to a buy rating in a research report on Friday, December 1st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $15.10.

Shares of Pennantpark Floating Rate Capital (NASDAQ PFLT) opened at $12.19 on Friday. The firm has a market cap of $507.14, a PE ratio of 13.25 and a beta of 0.54. Pennantpark Floating Rate Capital has a 1 year low of $12.00 and a 1 year high of $14.65.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last released its earnings results on Thursday, February 8th. The asset manager reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). The business had revenue of $14.84 million during the quarter, compared to analysts’ expectations of $15.29 million. Pennantpark Floating Rate Capital had a return on equity of 7.82% and a net margin of 47.64%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 earnings per share. analysts predict that Pennantpark Floating Rate Capital will post 1.08 EPS for the current year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 16th will be given a dividend of $0.095 per share. This represents a $1.14 annualized dividend and a yield of 9.35%. The ex-dividend date of this dividend is Thursday, February 15th. Pennantpark Floating Rate Capital’s dividend payout ratio (DPR) is 123.91%.

Hedge funds have recently made changes to their positions in the stock. Valeo Financial Advisors LLC grew its position in Pennantpark Floating Rate Capital by 94.8% during the 4th quarter. Valeo Financial Advisors LLC now owns 8,767 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 4,267 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Pennantpark Floating Rate Capital during the 3rd quarter valued at about $147,000. GSA Capital Partners LLP purchased a new stake in Pennantpark Floating Rate Capital during the 2nd quarter valued at about $207,000. Silver Capital Management LLC purchased a new stake in Pennantpark Floating Rate Capital during the 4th quarter valued at about $214,000. Finally, California Public Employees Retirement System grew its position in Pennantpark Floating Rate Capital by 9.4% during the 2nd quarter. California Public Employees Retirement System now owns 25,600 shares of the asset manager’s stock valued at $361,000 after purchasing an additional 2,200 shares during the last quarter. 26.51% of the stock is currently owned by institutional investors.

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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.

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