With over 0.44 million PennantPark Floating Rate Capital Ltd. (PFLT) shares trading Friday and a closing price of $11.90 on the day, the dollar volume was approximately $5.25 million. The shares have shown a positive half year performance of 13.01% and its price on 12/22/23 gained nearly 0.42%. Currently, there are 58.73M common shares owned by the public and among those 57.91M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for PFLT have a consensus price objective of $11.38. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $11.00. The average price target is -3.48% below its recent price level and a downside to the estimated low will see the stock lose -8.18% over that period. But an upside of 0.83% will see the stock hit the forecast high price target while median target price for the stock is $11.25.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in PennantPark Floating Rate Capital Ltd. are VanEck BDC Income ETF, iShares II Plc – Listed Private E, and Altshuler Shaham. VanEck BDC Income ETF owns 0.97 million shares of the company’s stock, all valued at over $10.76 million. The company bought an additional 2470.0 shares recently to bring their total holdings to about 1.65% of the shares outstanding. iShares II Plc – Listed Private E bought 925.0 shares to see its total holdings expand to 0.2 million shares valued at over $2.27 million and representing 0.35% of the shares outstanding. Altshuler Shaham now owns shares totaling to 0.18% of the shares outstanding.
Shares of PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) opened at $11.86, up $0.01 from a prior closing price of $11.85. However, the script later moved the day high at 11.96, up 0.42%. The company’s stock has a 5-day price change of 1.97% and 11.63% over the past three months. PFLT shares are trading 8.38% year to date (YTD), with the 12-month market performance up to 8.97% higher. It has a 12-month low price of $9.69 and touched a high of $12.33 over the same period. PFLT has an average intraday trading volume of 436.38K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.28%, 9.39%, and 10.77% respectively.
Institutional ownership of PennantPark Floating Rate Capital Ltd. (NYSE: PFLT) shares accounts for 22.89% of the company’s 58.73M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $698.94M and a beta (3y monthly) value of 1.68. The stock’s trailing 12-month PE ratio is 15.45, while the earnings-per-share (ttm) stands at $0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.26% over the week and 1.24% over the month.
Analysts forecast that PennantPark Floating Rate Capital Ltd. (PFLT) will achieve an EPS of $0.31 for the current quarter, $0.31 for the next quarter and $1.25 for 2025. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was $0.3 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.00%, and 0.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate PennantPark Floating Rate Capital Ltd. (PFLT) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PFLT, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on June 08, 2023, with the firm’s price target at $11.
