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PennantPark Floating Rate Capital Ltd. (PFLT): What Makes The Stock Good?

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) has seen 2.53 million shares traded in the recent trading session. The company, currently valued at $535.53M, closed the recent trade at $10.85 per share which meant it lost -$0.96 on the day or -8.13% during that session. The PFLT stock price is -32.53% off its 52-week high price of $14.38 and 13.09% above the 52-week low of $9.43. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.27 million shares traded. The 3-month trading volume is 213.75K shares.

The consensus among analysts is that PennantPark Floating Rate Capital Ltd. (PFLT) is an Overweight stock at the moment, with a recommendation rating of 2.70. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 4 out of 6 have rated it as a Hold, with 2 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.29.

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PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) trade information

Sporting -8.13% in the red today, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the PFLT stock price touched $10.85 or saw a rise of 10.26%. Year-to-date, PennantPark Floating Rate Capital Ltd. shares have moved 7.56%, while the 5-day performance has seen it change -2.56%. Over the past 30 days, the shares of PennantPark Floating Rate Capital Ltd. (NYSE:PFLT) have changed 8.85%. Short interest in the company has seen 1.08 million shares shorted with days to cover at 2.98.

Wall Street analysts have a consensus price target for the stock at $12.38, which means that the shares’ value could jump 12.36% from the levels at last check today. The projected low price target is $11.00 while the price target rests at a high of $13.00. In that case, then, we find that the latest price level in today’s session is -19.82% off the targeted high while a plunge would see the stock gain -1.38% from the levels at last check today.

PennantPark Floating Rate Capital Ltd. (PFLT) estimates and forecasts

Figures show that PennantPark Floating Rate Capital Ltd. shares have outperformed across the wider relevant industry. The company’s shares have lost -4.53% over the past 6 months, with this year growth rate of 2.54%, compared to -13.80% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 3.60% and -9.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 5.00%.

4 analysts offering their estimates for the company have set an average revenue estimate of $27.86 million for the current quarter. 4 have an estimated revenue figure of $29.24 million for the next quarter concluding in Dec 2022. Year-ago sales stood $16.31 million and $21.63 million respectively for this quarter and the next, and analysts expect sales will grow by 70.80% for the current quarter and 35.20% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -0.37% over the past 5 years.

PFLT Dividends

PennantPark Floating Rate Capital Ltd. is expected to release its next earnings report between February 07 and February 13 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 1.14 at a share yield of 9.65%. The company’s dividend yield has gone up over the past 12 months.

PennantPark Floating Rate Capital Ltd. (NYSE:PFLT)’s Major holders

Insiders own 1.80% of the company shares, while shares held by institutions stand at 22.54% with a share float percentage of 22.96%. Investors are also buoyed by the number of investors in a company, with PennantPark Floating Rate Capital Ltd. having a total of 111 institutions that hold shares in the company. The top two institutional holders are Sound Income Strategies, LLC with over 2.58 million shares worth more than $24.78 million. As of Sep 29, 2022, Sound Income Strategies, LLC held 5.69% of shares outstanding.

The other major institutional holder is Altshuler Shaham Ltd, with the holding of over 1.89 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $21.71 million and represent 4.17% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are VanEck ETF Trust -VanEck BDC Income ETF and Alternative Credit Income Fund. As of Sep 29, 2022, the former fund manager holds about 1.25% shares in the company for having 0.57 million shares of worth $5.46 million while later fund manager owns 0.3 million shares of worth $3.48 million as of Jun 29, 2022, which makes it owner of about 0.67% of company’s outstanding stock.

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