PennantPark Floating Rate Capital Ltd (NYSE: PFLT) is -7.77% lower on its value in year-to-date trading and has touched a low of $9.69 and a high of $12.63 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PFLT stock was last observed hovering at around $11.09 in the last trading session, with the day’s gains setting it 0.07%.
Currently trading at $11.16, the stock is 1.54% and -1.33% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.51 million and changing 0.63% at the moment leaves the stock -2.05% off its SMA200. PFLT registered 4.49% gain for a year compared to 6-month loss of -2.36%.
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The stock witnessed a -0.27% gain in the last 1 month and extending the period to 3 months gives it a -1.15%, and is -0.18% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.14% over the week and 1.62% over the month.
Current P/E ratio is 6.72 and Fwd P/E is 8.93. Distance from 52-week low is 15.17% and -11.64% from its 52-week high.
The EPS is expected to shrink by -4.50% this year
124.0 institutions hold shares in PennantPark Floating Rate Capital Ltd (PFLT), with institutional investors hold 22.40% of the company’s shares. The shares outstanding are 73.42M, and float is at 72.58M with Short Float at 1.36%. Institutions hold 22.14% of the Float.
The top institutional shareholder in the company is SOUND INCOME STRATEGIES, LLC with over 2.66 million shares valued at $30.66 million. The investor’s holdings represent 4.3442 of the PFLT Shares outstanding. As of 2024-06-30, the second largest holder is ALTSHULER SHAHAM LTD with 1.57 million shares valued at $18.15 million to account for 2.5725 of the shares outstanding. The other top investors are VAN ECK ASSOCIATES CORP which holds 1.47 million shares representing 2.3998 and valued at over $16.94 million, while TWO SIGMA INVESTMENTS, LP holds 2.1566 of the shares totaling 1.32 million with a market value of $15.22 million.
PennantPark Floating Rate Capital Ltd (PFLT) Insider Activity
The most recent transaction is an insider purchase by Briones Jose A, the company’s Director. SEC filings show that Briones Jose A bought 1,745 shares of the company’s common stock on Jun 05 ’24 at a price of $11.40 per share for a total of $19892.0. Following the purchase, the insider now owns 0.32 million shares.
PennantPark Floating Rate Capital Ltd disclosed in a document filed with the SEC on May 30 ’24 that Allorto Richard T JR (CFO and Treasurer) bought a total of 10,000 shares of the company’s common stock. The trade occurred on May 30 ’24 and was made at $11.30 per share for $0.11 million. Following the transaction, the insider now directly holds 10000.0 shares of the PFLT stock.
Still, SEC filings show that on May 28 ’24, Briones Jose A (Director) acquired 885 shares at an average price of $11.33 for $10027.0. The insider now directly holds 317,738 shares of PennantPark Floating Rate Capital Ltd (PFLT).
