Quote & Headlines
Market Currents
StockTalk
Today
5d
1m
3m
1y
5y
10y
52wk high:
52wk low:
EPS:
PE:
Div Rate:
Yield:
Market Cap:
Volume:
7,475 people get PSEC articles and Market Currents by email alert.
Get email alerts on PSEC »
FOCUS
|
PRO
|
RELATED
|
TRANSCRIPTS
|
NEWS & PR
To learn more about Seeking Alpha Pro, click here.
-
Marketwire (May 13, 2013)
-
Marketwire (May 10, 2013)
-
Marketwire (Apr 25, 2013)
-
at CNBC.com (Mar 25, 2013)
-
Marketwire (Mar 4, 2013)
-
Marketwire (Feb 4, 2013)
-
Marketwire (Jan 31, 2013)
PSEC vs. ETF Alternatives
Company Description
We are a financial services company that primarily lends to and invests in middle market privately-held companies. We are a closed-end investment company that has filed an election to be treated as a business development company under the Investment Company Act of 1940, or the 1940 Act. We... More
- All
- | Earnings
- | Dividends
- | M&A
- | On the move
- Monday, June 17, 9:54 AM Prospect Capital (PSEC) declares dividend for the month of Sep., Oct., Nov., and Dec., (PR) 6 Comments [Dividends]
- Monday, June 17, 9:43 AM Prospect Capital (PSEC +2.2%) plans to keep its payout in place for the rest of the year, declaring monthly dividends of just over $0.11/share for September through December. The company notes the rates it pays on liabilities are locked in for many years, while the rates it receives on assets float - "providing upside to shareholders as interest rates rise." (PR) Comment! [Financials, On the Move]
- Wednesday, June 12, 8:10 AM Another beaten-up income favorite puts the sellers on notice (CYS on Monday) with Prospect Capital (PSEC) guiding Q2 estimated NII to $0.35/share from $0.31 previously. The company also announces a new $112M senior loan to a leading 3rd party logistics company servicing shippers globally. With no borrowing under its credit line, Prospect has $800M in new investment capacity. Shares +2% premarket. (PR) 6 Comments [Financials, Breaking News, On the Move]
- Friday, June 7, 10:43 AM Treasury prices are sharply lower, but high yield (HYG +0.6%) is enjoying a nice bounce after a rough few weeks. The move is translating into higher prices for BDCs (BDCS +1.5%) - whose assets are somewhat comparable to junk debt. Leading: Prospect (PSEC +1.2%), Main Street (MAIN +2.2%), Triangle (TCAP +1%), MCG (MCGC +1.6%), American Capital (ACAS +1.7%), Fifth Street (FSC +1.1%), and Golub (GBDC +0.9%). As SA's Alberto Alfonso points out, American Capital - for one - can take advantage of recent declines to buy back even more shares at well below book value. 1 Comment [Financials, On the Move]
- Tuesday, June 4, 1:43 PM Main Street Capital (MAIN -4.2%) continues for a 2nd day to bear the brunt of the selling in the BDC sector (BDCS -0.7%). The company's just-published investor day presentation is typical conference stuff - showing how the company is different (and superior) to its sector brethren, explaining the opportunities in lower and middle-market lending, and including several case studies. Also notably lower: MCG Capital (MCGC -1.6%), Prospect (PSEC -1.3%), and Hercules (HTGC -1%). 16 Comments [Financials, On the Move]
- Monday, June 3, 11:52 AM Business development companies (BDCS -1.1%) see some selling as higher interest rates threaten to offer at least minor competition to their fat dividends. The drop in junk bond prices - a decent proxy for the assets on their books - isn't helping either. Leading on the downside today: Main Street (MAIN -4.5%), American Capital (ACAS -2.4%), Prospect Capital (PSEC -1.4%), Ares Capital (ARCC -1.1%), Blackrock Kelso (BKCC -1.1%). 5 Comments [Financials, On the Move]
- Tuesday, May 21, 7:43 AM Prospect Capital (PSEC) receives a distribution of $66M after portfolio company Wolf Energy sells some oil and gas assets in Texas. Prospect estimates the cash has boosted NAV by more than $0.06/share. Had the cash flows been received in Q1, it would have cut Prospect's loan assets on non-accrual to just 0.2% from 1.3% reported. (PR) 7 Comments [Financials]
- Monday, May 13, 7:39 AM Prospect Capital (PSEC) buys further into the apartment rental business, closing three new apartment deals totaling $27.4M. Two of the multi-family properties are in Florida (Tampa and Bradenton), the other in suburban Atlanta. (PR) 1 Comment [Financials]
- Friday, May 10, 7:12 AM 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. 4 Comments [Financials]
- Monday, May 6, 9:12 PM More on Prospect Captial (PSEC) FQ3 earnings: NAV of $10.71/share off $0.10 from Dec. 31 and against today's closing price of $11.11. Net investment income/share guidance for FQ4 of $0.26-$0.32. Accumulated NII over earnings thus far this fiscal year is $0.22/share. Portfolio yield of 13.9% on March 31. Market value of assets on non-accrual is 1.3% of total assets, down from 1.9% at start of fiscal year. Conference call tomorrow at 11 ET. Shares -1.9% AH. (PR) Comment! [Earnings, Financials, On the Move]
- Monday, May 6, 5:34 PM Prospect Capital (PSEC): FQ3 NII of $0.26 misses by $0.05. (PR) 5 Comments [Earnings, Breaking News, Financials]
- Tuesday, March 26, 10:36 AM Investors may want to take profits in BDCs, says Wells Fargo, downgrading the sector to Hold. New investment yields are near historic lows despite higher leverage multiples and a spike in covenant-lite deals, says Wells, a risky combination. Individual downgrades: AINV, PSEC, BKCC, TICC, HRZN, PNNT, TCRD, MCC. A few upgrades make the mix: HTGG, GBDC, ARCC, NMFC. 14 Comments [Financials]
- Thursday, February 28, 11:21 AM Billed as a private equity ETF, the newly listed PEX owns no Blackstone, KKR, or Fortress. The top U.S. holdings - ARCC, ACAS, PSEC, AINV, FSC - will be well-known to fans of BDCs though. 9 Comments [Financials]
- Friday, February 8, 12:54 PM In 2013 Q1, BDCs might find themselves paying for a robust 2012 Q4 (when companies rushed to close deals ahead of tax hikes). "Our deal pipeline in Q1 is much slower than it was last quarter," said Golub Capital (GBDC) CEO David Golub on the earnings call (transcript). "It's not anemic ... but there's no question that we and others in the market are feeling the full-forward effect of last quarter." 6 Comments [Financials]
- Friday, February 8, 12:05 AM Notable earnings before Friday’s open: AOL, AXL, BPL, CBOE, ETR, GSM, LH, LPX, MCO, NBIX, PSEC, YRCW Comment! [Earnings]
- Thursday, February 7, 5:52 PM Prospect Capital (PSEC): FQ2 EPS of $0.51 beats by $0.09. (PR) 3 Comments [Earnings, Financials]
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.