PennantPark Floating Rate Stock (NYSE: PFLT)

PennantPark Floating Rate Stock (NYSE:PFLT), Trade Ideas

PennantPark Floating Rate

PennantPark Floating Rate Capital Ltd is a closed-end, externally managed, non-diversified investment company. Its investment objectives are to generate current income and capital appreciation by investing in Floating Rate Loans and other investments made to U.S. middle-market companies. The company believes that Floating Rate Loans to U.S. middle-market companies offer attractive risk-reward to investors due to the limited amount of capital available for such companies and the potential for rising interest rates. The company generate revenue in the form of interest income on the debt securities and dividends.

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PennantPark Floating Rate Capital Ltd. Common Stock

PennantPark Floating Rate Capital Ltd

JMP Securities analyst Kevin Fitzsimmons reiterates PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) with a Market Outperform and maintains $12.5 price target.

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JMP Securities Reiterates Market Outperform on PennantPark Floating Rate, Maintains $12.5 Price Target

Tuesday marks the last chance for investors to receive the next dividend payout from PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>). 
<h3>What's Happening</h3>
The company announced on Friday that it would pay shareholders a monthly dividend of 10.25 cents per share. On Wednesday, PennantPark Floating Rate will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.25 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own PFLT as of the end of Tuesday's session are eligible to receive the 10.25 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on March 01, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/PFLT">Monitor live stock price updates for PennantPark Floating Rate on Benzinga.</a>

Dividends

Tuesday Is Your Last Chance To Buy PennantPark Floating Rate Before The Dividend Payout

PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.31 by 6.45 percent. The company reported quarterly sales of $37.97 million which beat the analyst consensus estimate of $35.01 million by 8.46 percent. This is a 21.17 percent increase over sales of $31.34 million the same period last year.

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PennantPark Floating Rate Q1 2024 Adj EPS $0.33 Beats $0.31 Estimate, Sales $37.97M Beat $35.01M Estimate

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Earnings Scheduled For February 7, 2024

PennantPark Floating Rate's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) short percent of float has fallen 31.9% since its last report. The company recently reported that it has 642 thousand shares sold short, which is 1.11% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.37 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PennantPark Floating Rate Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1705933820_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PennantPark Floating Rate has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing PennantPark Floating Rate's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PennantPark Floating Rate's peer group average for short interest as a percentage of float is 2.38%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Looking Into PennantPark Floating Rate's Recent Short Interest

JMP Securities analyst Kevin Fitzsimmons maintains PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) with a Market Outperform and raises the price target from $12 to $12.5.

JMP Securities Maintains Market Outperform on PennantPark Floating Rate, Raises Price Target to $12.5

Thursday marks the last chance for investors to receive the next dividend payout from PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>). 
<h3>What's Happening</h3>
The company announced on Wednesday that it would pay shareholders a monthly dividend of 10.25 cents per share. On Friday, PennantPark Floating Rate will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.25 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Friday. Shareholders who own PFLT as of the end of Thursday's session are eligible to receive the 10.25 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on February 01, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To stay up-to-date with the companies that are announcing their dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

PennantPark Floating Rate's Ex-Dividend Date Is Friday, Here's What You Need To Know

PennantPark Floating Rate's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) short percent of float has risen 66.33% since its last report. The company recently reported that it has 945 thousand shares sold short, which is 1.63% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.94 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>PennantPark Floating Rate Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1704114918_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for PennantPark Floating Rate has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing PennantPark Floating Rate's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, PennantPark Floating Rate's peer group average for short interest as a percentage of float is 2.20%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

(PFLT) - Analyzing PennantPark Floating Rate's Short Interest

PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) reported quarterly earnings of $0.32 per share which beat the analyst consensus estimate of $0.31 by 3.23 percent. This is a 6.67 percent increase over earnings of $0.30 per share from the same period last year. The company reported quarterly sales of $35.73 million which beat the analyst consensus estimate of $34.59 million by 3.31 percent. This is a 24.14 percent increase over sales of $28.79 million the same period last year.

PennantPark Floating Rate Q4 Adj $0.32 Beats $0.31 Estimate, Sales $35.73M Beat $34.59M Estimate

PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) reported its Q4 earnings results on Wednesday, November 15, 2023 at 04:05 PM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
PennantPark Floating Rate beat estimated earnings by 3.23%, reporting an EPS of $0.32 versus an estimate of $0.31.
Revenue was up $6.95 million from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $0.05 which was followed by a 3.99% drop in the share price the next day.
Here's a look at PennantPark Floating Rate's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.36</td>
<td>0.30</td>
<td>0.3</td>
<td>0.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.31</td>
<td>0.34</td>
<td>0.3</td>
<td>0.30</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>36.70M</td>
<td>31.91M</td>
<td>29.87M</td>
<td>27.86M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>37.71M</td>
<td>34.55M</td>
<td>31.34M</td>
<td>28.79M</td>
</tr>
</tbody>
</table>

To track all earnings releases for PennantPark Floating Rate <a href="https://www.benzinga.com/quote/PFLT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: PennantPark Floating Rate Q4 Earnings

PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) is set to give its latest quarterly earnings report on Wednesday, 2023-11-15. Here's what investors need to know before the announcement.
Analysts estimate that PennantPark Floating Rate will report an earnings per share (EPS) of $0.31. 
PennantPark Floating Rate bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company missed EPS by $0.05, which was followed by a 3.99% drop in the share price the next day.
Here's a look at PennantPark Floating Rate's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.36</td>
<td>0.30</td>
<td>0.3</td>
<td>0.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.31</td>
<td>0.34</td>
<td>0.3</td>
<td>0.30</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-3.99%</td>
<td>2.61%</td>
<td>0.65%</td>
<td>-0.62%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2023/1699974061_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of PennantPark Floating Rate were trading at $10.9 as of November 13. Over the last 52-week period, shares are down 2.4%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/PFLT/earnings">To track all earnings releases for PennantPark Floating Rate visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

PennantPark Floating Rate Earnings Preview

Tuesday marks the last chance for investors to receive the next dividend payout from PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>). 
<h3>What's Happening</h3>
The company announced on Thursday that it would pay shareholders a monthly dividend of 10.25 cents per share. On Wednesday, PennantPark Floating Rate will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.25 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Wednesday. Shareholders who own PFLT as of the end of Tuesday's session are eligible to receive the 10.25 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on December 01, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/PFLT">See current stock movements PennantPark Floating Rate on Benzinga.</a>

PennantPark Floating Rate: Dividend Insights

Monday marks the last chance for investors to receive the next dividend payout from PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>). 
<h3>What's Happening</h3>
The company announced on Wednesday that it would pay shareholders a monthly dividend of 10.25 cents per share. On Tuesday, PennantPark Floating Rate will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.25 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Tuesday. Shareholders who own PFLT as of the end of Monday's session are eligible to receive the 10.25 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on September 01, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/PFLT">See current stock movements PennantPark Floating Rate on Benzinga.</a>

PennantPark Floating Rate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFLT#NYSE">PFLT</a>) reported quarterly earnings of $0.31 per share which missed the analyst consensus estimate of $0.36 by 13.89 percent. This is a 6.9 percent increase over earnings of $0.29 per share from the same period last year. The company reported quarterly sales of $37.71 million which beat the analyst consensus estimate of $36.70 million by 2.76 percent. This is a 46.58 percent increase over sales of $25.73 million the same period last year.

PennantPark Floating Rate Q3 Adj EPS $0.31 Misses $0.36 Estimate, Sales $37.71M Beat $36.70M Estimate