PennantPark Floating Rate Capital Ltd (NYSE: PFLT) is -8.05% lower on its value in year-to-date trading and has touched a low of $10.28 and a high of $12.02 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 $11.06 in the last trading session, with the day’s loss setting it -1.01%.
Currently trading at $10.05, the stock is -9.45% and -9.88% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.21 million and changing -9.13% at the moment leaves the stock -10.60% off its SMA200. PFLT registered -10.27% loss for a year compared to 6-month loss of -12.76%. The firm has a 50-day simple moving average (SMA 50) of $11.152 and a 200-day simple moving average (SMA200) of $11.24135.
The stock witnessed a -8.97% gain in the last 1 month and extending the period to 3 months gives it a -8.55%, and is -10.90% 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 3.19% over the week and 1.66% over the month.
Current P/E ratio is 7.34 and Fwd P/E is 7.74. Distance from 52-week low is -2.21% and -16.39% from its 52-week high.
The EPS is expected to grow by 12.06% this year.
PennantPark Floating Rate Capital Ltd (PFLT) Top Institutional Holders
145.0 institutions hold shares in PennantPark Floating Rate Capital Ltd (PFLT), with institutional investors hold 21.92% of the company’s shares. The shares outstanding are 87.96M, and float is at 87.10M with Short Float at 1.43%. Institutions hold 21.71% 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 3.8792% 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 2.2972 of the shares outstanding. The other top investors are VAN ECK ASSOCIATES CORP which holds 1.47 million shares representing 2.143% and valued at over $16.94 million, while TWO SIGMA INVESTMENTS, LP holds 1.9258 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).
