Pearl Diver Credit swings to Q2 profit after prior-qtr loss
PDCC•Analyst coverage
The current average analyst rating on the shares is "buy", with 2 "strong buy" or "buy" ratings, no "hold" ratings, and no "sell" or "strong sell" ratings.
The average consensus recommendation for the closed-end funds peer group is "buy".
Wall Street's median 12-month price target for Pearl Diver Credit Company Inc is $13.00, about 47.2% above its Aug. 26 closing price of $8.83.
Drivers and outlook
Pearl Diver Credit said recovery in CLO equity markets strengthened net asset value as spreads tightened. The company also said it executed a larger refinancing program and reduced its cost of debt.
The company said it will continue to execute a disciplined investment strategy.
Net asset value rises, recurring cash flows fall
The company's net asset value per share rose to $11.15 from $10.48 in the prior quarter.
Recurring cash flows from CLO investments fell to from in the prior quarter.
