PennantPark Floating Rate Capital Ltd (NYSE: PFLT) is -10.74% lower on its value in year-to-date trading and has touched a low of $10.28 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 $10.86 in the last trading session, with the day’s loss setting it -0.06%.
Currently trading at $10.80, the stock is -1.23% and -3.08% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.7 million and changing -0.55% at the moment leaves the stock -4.48% off its SMA200. PFLT registered -9.77% loss for a year compared to 6-month loss of -5.35%. The firm has a 50-day simple moving average (SMA 50) of $11.1632 and a 200-day simple moving average (SMA200) of $11.30935.
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The stock witnessed a -2.00% gain in the last 1 month and extending the period to 3 months gives it a -5.51%, and is 1.22% up 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 1.39% over the week and 1.32% over the month.
Current P/E ratio is 6.51 and Fwd P/E is 8.64. Distance from 52-week low is 5.09% and -14.49% from its 52-week high.
The EPS is expected to shrink by -4.50% this year
119.0 institutions hold shares in PennantPark Floating Rate Capital Ltd (PFLT), with institutional investors hold 23.00% of the company’s shares. The shares outstanding are 83.23M, and float is at 82.38M with Short Float at 0.80%. Institutions hold 22.74% 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).
