PennantPark Floating Rate Capital (NYSE:PFLT) Shares Up 1% – Here’s What Happened

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) traded up 1% during mid-day trading on Tuesday . The stock traded as high as $9.35 and last traded at $9.32. 564,729 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 1,138,593 shares. The stock had previously closed at $9.23.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of PennantPark Floating Rate Capital from a “hold” rating to a “moderate buy” rating and set a $10.50 price target on the stock in a research report on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PennantPark Floating Rate Capital in a research report on Wednesday, October 8th. Finally, Wall Street Zen cut shares of PennantPark Floating Rate Capital from a “hold” rating to a “sell” rating in a research report on Saturday, October 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.50.

PennantPark Floating Rate Capital Trading Up 1.0%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a market cap of $924.71 million, a price-to-earnings ratio of 11.10 and a beta of 0.96.

PennantPark Floating Rate Capital (NYSE:PFLT) last released its earnings results on Wednesday, November 17th. The company reported $0.28 earnings per share for the quarter. PennantPark Floating Rate Capital had a net margin of 28.31% and a return on equity of 10.04%. The firm had revenue of $10.69 million for the quarter.

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.