LADENBURG THALM/SH SH upgraded shares of Pennantpark Floating Rate Capital (NASDAQ:PFLT) from a neutral rating to a buy rating in a research report report published on Friday morning, MarketBeat Ratings reports. LADENBURG THALM/SH SH currently has $14.00 target price on the asset manager’s stock.

Several other research analysts have also issued reports on PFLT. Maxim Group raised their target price on Pennantpark Floating Rate Capital from $14.00 to $14.50 and gave the stock a buy rating in a research report on Friday, August 10th. ValuEngine lowered Pennantpark Floating Rate Capital from a hold rating to a sell rating in a research report on Friday, September 14th. Zacks Investment Research lowered Pennantpark Floating Rate Capital from a strong-buy rating to a hold rating in a research report on Tuesday, October 16th. Finally, BidaskClub upgraded Pennantpark Floating Rate Capital from a strong sell rating to a sell rating in a report on Friday, October 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Pennantpark Floating Rate Capital has an average rating of Hold and an average price target of $14.63.

Shares of PFLT stock opened at $13.24 on Friday. The firm has a market capitalization of $517.22 million, a price-to-earnings ratio of 12.49 and a beta of 0.52. Pennantpark Floating Rate Capital has a fifty-two week low of $12.00 and a fifty-two week high of $14.32.

Pennantpark Floating Rate Capital (NASDAQ:PFLT) last issued its earnings results on Wednesday, November 14th. The asset manager reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.02. The firm had revenue of $21.30 million for the quarter, compared to the consensus estimate of $19.92 million. Pennantpark Floating Rate Capital had a return on equity of 7.76% and a net margin of 46.39%. Equities research analysts expect that Pennantpark Floating Rate Capital will post 1.2 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Tuesday, November 20th will be paid a dividend of $0.078 per share. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.94 dividend on an annualized basis and a yield of 7.07%. This is an increase from Pennantpark Floating Rate Capital’s previous monthly dividend of $0.01. Pennantpark Floating Rate Capital’s payout ratio is 107.55%.

Hedge funds have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. bought a new position in shares of Pennantpark Floating Rate Capital during the 3rd quarter worth approximately $113,000. Visionary Asset Management Inc. bought a new stake in shares of Pennantpark Floating Rate Capital in the 3rd quarter worth approximately $133,000. BlueMountain Capital Management LLC bought a new stake in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth approximately $137,000. Citadel Advisors LLC bought a new stake in shares of Pennantpark Floating Rate Capital in the 2nd quarter worth approximately $142,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Pennantpark Floating Rate Capital in the 3rd quarter worth approximately $266,000. Institutional investors and hedge funds own 33.92% of the company’s stock.

Pennantpark Floating Rate Capital Company Profile

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.

Featured Article: Stop Order

Receive News & Ratings for Pennantpark Floating Rate Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pennantpark Floating Rate Capital and related companies with MarketBeat.com's FREE daily email newsletter.