2 weeks Ago By ABMN Staff
PennantPark Floating Rate Capital ( NASDAQ:PFLT – Get Free Report ) had its price target lowered by stock analysts at UBS Group from $11.50 to $10.50 in a research report issued to clients and investors on Thursday, Benzinga reports.
The brokerage presently has a “neutral” rating on the asset manager’s stock. UBS Group’s price objective would indicate a potential upside of 7.75% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. StockNews.com raised shares of PennantPark Floating Rate Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 12th.
Keefe, Bruyette & Woods reduced their price target on PennantPark Floating Rate Capital from $11.50 to $11.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 8th.
Finally, Raymond James assumed coverage on PennantPark Floating Rate Capital in a research report on Friday, December 20th. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock.
According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $11.38. Read Our Latest Analysis on PennantPark Floating Rate Capital PennantPark Floating Rate Capital Stock Performance Institutional Investors Weigh In On PennantPark Floating Rate Capital Several large investors have recently added to or reduced their stakes in the business.
Cornerstone Wealth Management LLC bought a new position in shares of PennantPark Floating Rate Capital during the 1st quarter worth approximately $825,000. Janney Montgomery Scott LLC lifted its position in shares of PennantPark Floating Rate Capital by 6.3% during the 1st quarter.
Janney Montgomery Scott LLC now owns 43,716 shares of the asset manager’s stock valued at $489,000 after acquiring an additional 2,579 shares during the period. Sound Income Strategies LLC boosted its stake in PennantPark Floating Rate Capital by 8.0% during the first quarter.
Sound Income Strategies LLC now owns 3,585,201 shares of the asset manager’s stock worth $40,118,000 after acquiring an additional 265,162 shares in the last quarter. GraniteShares Advisors LLC grew its holdings in PennantPark Floating Rate Capital by 6.5% in the first quarter.
GraniteShares Advisors LLC now owns 239,300 shares of the asset manager’s stock worth $2,678,000 after purchasing an additional 14,500 shares during the period. Finally, Miracle Mile Advisors LLC bought a new stake in PennantPark Floating Rate Capital in the first quarter valued at $124,000. Institutional investors and hedge funds own 19.
77% of the company’s stock. About PennantPark Floating Rate Capital ( Get Free Report ) 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.
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