Is there a Bearish outlook for PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) this week?

September 16, 2018 - By Vivian Park

Investors sentiment decreased to 1.04 in 2018 Q2. Its down 0.32, from 1.36 in 2018Q1. It worsened, 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.
Cambridge Research Advsr holds 29,073 shares. Bluemountain Capital Mgmt Ltd Liability Corporation has 10,054 shares for 0% of their portfolio. Texas Yale Cap Corp accumulated 79,444 shares. X Mgmt Co Lc stated it has 19,402 shares or 0% of all its holdings. Cibc Markets holds 0% or 10,519 shares. Atwood Palmer Incorporated holds 0% or 640 shares in its portfolio. Deutsche Retail Bank Ag stated it has 0% in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT). Taylor Frigon Cap Management Ltd Liability holds 107,188 shares or 1.06% of its portfolio. Envestnet Asset has invested 0% in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT). Edge Wealth Limited Liability Corporation reported 2,000 shares. Fincl Consulate invested 0.07% in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT). Missouri-based Confluence Inv Limited Company has invested 0.02% in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT). Raymond James Finance Ser Advisors accumulated 0% or 11,133 shares. Financial Architects has 0.02% invested in PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) for 7,000 shares. Freestone Holding Limited Co stated it has 85,000 shares or 0.01% of all its holdings.

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. JP Morgan maintained it with “Overweight” rating and $8 target in Friday, August 10 report. Ladenburg Thalmann downgraded PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) on Monday, May 14 to “Neutral” rating. Maxim Group maintained PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) rating on Friday, August 10. Maxim Group has “Buy” rating and $14.5 target. Maxim Group maintained PennantPark Floating Rate Capital Ltd. (NASDAQ:PFLT) rating on Friday, May 11. Maxim Group has “Buy” rating and $1400 target. 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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