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Horizon Technology Finance Corporation Message Board

rush075 8 posts  |  Last Activity: 19 hours ago Member since: Mar 11, 2002
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  • No, no and a thousand times no, don't sell your Prospect Capital (PSEC-$10.16). This is one of some 89 publicly traded business development companies created by Congress since 1980 to encourage the flow of public equity capital to private businesses. BDCs are unique because they focus on investing in private companies but enjoy the liquidity of a publicly traded stock. Private company investing is usually the provenance of sophisticated investors and large institutions. But BDCs provide the hoi polloi the same opportunity on a pooled basis and diversify their risks. For instance, PSEC's portfolio owns the debt and equity of 127 different companies, so if one of them were to go toes up, it would have a minimal effect on the bottom line.
    The legal brouhaha to which you refer is a result of PSEC's earnings release last May. Management disclosed, in discussions with the Securities and Exchange Commission, that it may need to consolidate some of the holding companies it owns. This mention of the SEC created a potential Golconda for sleazy law firms and dime-store lawyers who'd sue their firstborn to earn a fee. So they descended on Prospect in a legal #$%$, offering to represent shareholders and claiming that management was disingenuous and misleading investors. Though they couldn't have been more wrong, PSEC collapsed anyway to $9.17 last May
    Today's price is barely different from your basis in 2010, but you've received over 13 percent yearly from those dividends, which increased fractionally every month since you've owned the stock. That's a good return, especially since only a portion of the dividend is taxable at ordinary rates.
    This Maryland company provides capital to middle-market businesses for refinancing, leveraged buyouts, acquisitions, late-stage growth, recapitalization and capital expenditures. PSEC came public in late 2004 at $15 with lots of hope and minuscule revenues. For the 12 months ending in June, revenues were $700 million, while net income came in at $330 million. And Wall Street believes that next year, PSEC will report even higher revenues, earnings and dividends. So with the exception of 2010, when net margins and return on assets fell, PSEC has been a good "speculative income" issue; a return of over 13 percent annually is nothing to cough about. I think PSEC's excellent management can continue to make the company an excellent speculative income issue, and the analysts who cover this issue for Wells Fargo, RBC Capital Markets, Raymond James, Barclays, UBS and Deutsche Bank agree.

  • Prospect Capital Corporation (NASDAQ:PSEC) CFO Brian H. Oswald bought 27,300 shares of the stock in a transaction dated Wednesday, August 27th. The stock was purchased at an average price of $10.40 per share, with a total value of $283,920.00. Following the completion of the acquisition, the chief financial officer now directly owns 149,000 shares of the company’s stock, valued at approximately $1,549,600. On Friday shares of Prospect Capital Corporation (NASDAQ:PSEC) ended up at $10.31. This year Company’s Earnings per Share (EPS) growth is -35.90% and next year’s EPS growth is 1.57%. Beta of Prospect Capital Corporation (NASDAQ:PSEC) is 0.96 while company weekly performance is -4.54%.

    Sentiment: Strong Buy

  • FS Investment (NASDAQ:FSIC) Director David J. Adelman bought 3,700 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of $10.35 per share, with a total value of $38,295.00. Following the completion of the transaction, the director now directly owns 34,063 shares of the company’s stock, valued at approximately $352,552.

  • Reply to

    NCT spo

    by frigator Aug 13, 2014 1:12 PM
    rush075 rush075 Aug 13, 2014 2:46 PM Flag

    Jman - I believe NCT is still a quarterly payer.

  • rush075 rush075 Jul 10, 2014 7:28 PM Flag

    zmarzz - No you are not correct. If you buy in after hours trading you will get the dividend.

  • Reply to

    June Dividend

    by boamylane Jun 30, 2014 1:03 PM
    rush075 rush075 Jun 30, 2014 2:25 PM Flag

    boamylane - you had to own FSC before 6/12 to get the 6/30 dividend.

  • Reply to

    Ouch...Offering price is $11/share

    by theheckwithtech Jun 20, 2014 11:36 AM
    rush075 rush075 Jun 25, 2014 1:27 PM Flag

    theheckwithtech - Good luck. I think you are expecting too much.

  • Reply to

    Ouch...Offering price is $11/share

    by theheckwithtech Jun 20, 2014 11:36 AM
    rush075 rush075 Jun 25, 2014 9:11 AM Flag

    johnsonjoel1 - I don't believe you will see the share price lower than what
    it is today after the ex-date.

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