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More deal flow. Prospect Capital (PSEC) provides a $60M credit line to Sandow Media, LLC,...

More deal flow. Prospect Capital (PSEC) provides a $60M credit line to Sandow Media, LLC, bringing YTD originations to about $1B. For perspective, the company closed nearly $3B in the year ended March 31. Triangle Capital (TCAP) yesterday got hit for a 5% decline after reporting very little Q1 action and management silent on Q2 as it waxed optimistic about 2013 H2.
Comments (4)
  • jmkdog
    , contributor
    Comments (209) | Send Message
     
    Interestingly enough, management has stated they only close on 1% of the deals they see not because the companies do not meet the credit standard.

     

    Only 1.3% no accrual and over 4B in assets. Not bad
    10 May 2013, 09:14 AM Reply Like
  • RonFrankDHM
    , contributor
    Comments (13) | Send Message
     
    What's really interesting is TCAP during the downturn didn't stop or reduce it's dividend. PSEC reduced it drastically and hasn't caught up yet. Now TCAP gets hit for not just jumping at every offer, and saying so. TCAP has increased it's dividend way past where it held steady through the downturn. TCAP stock price has also way outperformed PSEC. So, someone is thinking... Lol.
    If there is a downturn again, I'm certainly not riding through it with PSEC... But I would seriously consider adding to my stake of TCAP.
    10 May 2013, 10:00 AM Reply Like
  • jmkdog
    , contributor
    Comments (209) | Send Message
     
    RonFrankDHM,
    "PSEC reduced it drastically and hasn't caught up yet"

     

    Sorry this is incorrect.

     

    Prospect went from paying a quarterly dividend to paying a monthly.

     

    TCAP trades a a big premium to book, and you are correct it has outperformed on a pps basis.
    13 May 2013, 10:03 AM Reply Like
  • growthguy
    , contributor
    Comments (80) | Send Message
     
    We need more company guidance for next nine months. Much needed for shareholder comfort level.
    10 May 2013, 10:37 AM Reply Like
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