Maxim Group analyst Michael Diana maintained a Hold rating on Pennantpark Floating Rate (PFLT) yesterday. The company’s shares closed last Thursday at $11.75, close to its 52-week high of $12.67.
According to TipRanks.com, Diana is a 4-star analyst with an average return of 10.1% and a 53.5% success rate. Diana covers the Financial sector, focusing on stocks such as First Savings Financial Group, Westamerica Bancorporation, and Cullen/Frost Bankers.
Pennantpark Floating Rate has an analyst consensus of Moderate Buy, with a price target consensus of $11.00.
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Based on Pennantpark Floating Rate’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $18.05 million and net profit of $16.99 million. In comparison, last year the company earned revenue of $8.34 million and had a net profit of $7.37 million.
Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PFLT in relation to earlier this year.
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PennantPark Floating Rate Capital Ltd. is a closed-end, externally managed, non-diversified investment company. It invests primarily in loans bearing a variable-rate of interest or floating rate loans, and other investments made to U.S. middle-market companies. The company was founded by Arthur Howard Penn on October 28, 2010 and is headquartered in New York, NY.