PennantPark Investment Stock Discussion

1. Share Prices and P/NAV Multiples Have Expanded on Improved Sentiment YTD
BDC shares have performed well YTD, both on an absolute and relative basis (vs. the S&P 500 Index) as multiples have expanded on improved investor sentiment. The tailwinds from higher benchmark interest rates have persisted through 1H23 (and our estimates reflect further benefits from rates ex...