It’s been a crucial week for PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT); here’s what analysts have to say.

September 16, 2018 - By Catherine Diaz

Investors sentiment decreased to 1.04 in 2018 Q2. Its down 0.32, from 1.36 in 2018Q1. It turned negative, as 3 investors sold PennantPark Floating Rate Capital Ltd. shares while 22 reduced holdings. 12 funds opened positions while 14 raised stakes. 7.64 million shares or 11.33% less from 8.61 million shares in 2018Q1 were reported.
Blackrock has 171,325 shares for 0% of their portfolio. 103,529 were accumulated by Wells Fargo And Co Mn. Pacific Ridge Capital Ltd Limited Liability Company holds 404,492 shares. Deutsche National Bank & Trust Ag reported 5,512 shares stake. Janney Montgomery Scott Llc reported 508,850 shares or 0.07% of all its holdings. Yakira Management has 54,334 shares for 0.18% of their portfolio. Corbyn Investment Management Inc Md stated it has 231,153 shares or 1.11% of all its holdings. Morgan Stanley reported 357,819 shares stake. Baystate Wealth Mngmt Ltd Liability Com invested in 324 shares or 0% of the stock. Hightower Limited Liability Com stated it has 0.01% of its portfolio in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT). The California-based Ares Llc has invested 0.28% in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT). Confluence Invest Mngmt Ltd Liability owns 88,312 shares for 0.02% of their portfolio. West Family Investments holds 266,417 shares or 0.9% of its portfolio. Legal And General Group Public Limited, a United Kingdom-based fund reported 147,476 shares. Cue Grp reported 148,088 shares.

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Ratings Coverage

Among 3 analysts covering PennantPark Floating Rate (NASDAQ:PFLT), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. PennantPark Floating Rate has $14.5 highest and $8 lowest target. $11.25’s average target is -15.09% below currents $13.25 stock price. PennantPark Floating Rate had 4 analyst reports since May 14, 2018 according to SRatingsIntel. The firm has “Neutral” rating given on Monday, May 14 by Ladenburg Thalmann. As per Friday, August 10, the company rating was maintained by Maxim Group. The stock of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) earned “Overweight” rating by JP Morgan on Friday, August 10. The rating was maintained by Maxim Group on Friday, May 11 with “Buy”. Below is a list of PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) latest ratings and price target changes.

10/08/2018 Broker: Maxim Group Old Rating: Buy New Rating: Buy Old Target: $14 New Target: $14.5 Maintain
10/08/2018 Broker: JP Morgan Old Rating: Overweight New Rating: Overweight Old Target: $7.5 New Target: $8 Maintain
11/05/2018 Broker: Maxim Group Rating: Buy New Target: $14.0000 Maintain
14/05/2018 Broker: Ladenburg Thalmann Old Rating: Buy New Rating: Neutral Downgrade

The stock decreased 0.17% or $0.02 during the last trading session, reaching $13.25. About 103,922 shares traded. PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) has declined 6.60% since September 16, 2017 and is downtrending. It has underperformed by 22.22% the S&P500.

PennantPark Floating Rate Capital Ltd. is a business development company. The company has market cap of $513.73 million. It seeks to make secondary direct, debt, equity, and loan investments. It has a 14.61 P/E ratio. The fund seeks to invest through floating rate loans in private or thinly traded or small market-cap, public middle market companies.

More recent PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) news were published by: Nasdaq.com which released: “Report: Exploring Fundamental Drivers Behind PBF Logistics LP, PennantPark Floating Rate Capital, State Bank …” on September 04, 2018. Also Seekingalpha.com published the news titled: “Approaching Oversold Conditions, Driving 9% Yield With Upcoming Specials” on September 13, 2018. Nasdaq.com‘s news article titled: “PennantPark Floating Rate Capital Ltd. Announces Monthly Distributions of $0.095 per Share” with publication date: September 06, 2018 was also an interesting one.

PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) Institutional Positions Chart

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