|Bid||6.79 x 41800|
|Ask||6.99 x 1300|
|Day's Range||6.91 - 6.94|
|52 Week Range||5.51 - 7.40|
|PE Ratio (TTM)||10.53|
|Earnings Date||Aug 27, 2018 - Aug 31, 2018|
|Forward Dividend & Yield||0.72 (10.73%)|
|1y Target Est||6.00|
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Index (PMI) data, output in the Financials sector is rising.
Investors need to pay close attention to Prospect Capital (PSEC) stock based on the movements in the options market lately.
The last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment among investors who seek to profit from falling equity prices. Over the last month, growth of ETFs holding PSEC is favorable, with net inflows of $7 million. This is among the highest net inflows seen over the last one-year and the rate of additional inflows appears to be increasing.
A.M. Best has affirmed the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb” of American Federated Insurance Company (AFIC) (Flowood, MS). The ratings reflect AFIC’s balance sheet strength, which A.M. Best categorizes as weak, as well as its strong operating performance, limited business profile and marginal enterprise risk management. AFIC is an indirect, wholly owned subsidiary of First Tower Finance Company LLC (First Tower Finance), a multi-line specialty finance company.
What Could Impact Prospect Capital in Fiscal Q4 2018? Prospect Capital (PSEC) has had constant ratings for the past few months. In June, Prospect Capital’s competitor (XLF) Apollo Investment (AINV) is being covered by 12 analysts.
The PE ratio for Prospect Capital (PSEC) is 8.97x on an NTM (next-12-month) basis, which implies its discounted valuation since the peer average is 9.61x. Prospect’s competitors Ares Capital (ARCC), Apollo Investment (AINV), and FS Investment (FSIC) have PE ratios of 10.16x, 8.69x, and 9.99x, respectively, on an NTM basis.
In its June meeting, the Federal Reserve increased interest rates by 0.25%, which was widely expected. It also hinted that there might be two more rate hikes in 2018, for a total of four hikes in the year. Earlier, three rate hikes were expected in 2018. Other big news was the imposition of tariffs by the Trump administration on Chinese imports.
In the third fiscal quarter of 2018, Prospect Capital (PSEC) had NII (net investment income) of $70.4 million, which implies a fall YoY (year-over-year) and sequentially. Its net investment income per share also declined sequentially and YoY. The sequential decline was mainly due to an increase in administrative overhead expenses.
Today, WallStEquities.com scans Noah Holdings Ltd (NYSE: NOAH), Och-Ziff Capital Management Group LLC (NYSE: OZM), Prospect Capital Corp. (NASDAQ: PSEC), and SEI Investments Co. (NASDAQ: SEIC). Demand in the Asset Management space is driven by demographic and market trends, such as the growing population of retirees and the accumulation of wealth and investable assets, as well as returns on investments.
Prospect Capital Corporation (PSEC) (“Prospect”, “our”, or “we”) announced today the pricing of $70 million in aggregate principal amount of senior unsecured 5.875% Senior Notes due 2023 (the “Notes”). The Notes will be a further issuance of the 5.875% Senior Notes due 2023 that Prospect issued on March 15, 2013 in the aggregate principal amount of $250,000,000 (the "existing 5.875% Senior Notes”). Upon the issuance of the Notes, the outstanding aggregate principal amount of Prospect’s 5.875% Senior Notes due 2023 will be $320 million.
Prospect Capital Corporation (PSEC) (“Prospect”, “our”, or “we”) today announced it has been assigned an investment grade credit rating of BBB from Egan-Jones Ratings Company (“Egan-Jones”). Egan-Jones is a Nationally Recognized Statistical Ratings Organization (NRSRO) and is recognized by the National Association of Insurance Commissioners (NAIC) as a Credit Rating Provider (CRP). Egan-Jones is also certified by the European Securities and Markets Authority (ESMA).
Prospect Capital Corporation (the “Company”) today announced the results of its previously announced cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes listed below. The Tender Offer was made pursuant to an Offer to Purchase dated June 7, 2018 (the “Offer to Purchase”), which set forth the terms and conditions of the Tender Offer. As of the previously announced expiration time of 5:00 p.m., New York City time, on June 13, 2018 (the “Expiration Time”), according to information provided by D.F. King & Co., Inc., the tender and information agent for the Tender Offer, a total of $147,024,000 aggregate principal amount of Notes had been validly tendered and not validly withdrawn in the Tender Offer.
Prospect Capital Corporation (the “Company”) today announced that it has commenced a cash tender offer (the “Tender Offer”) to purchase any and all of the outstanding senior notes listed below. The Tender Offer will expire at 5:00 p.m., New York City time, on June 13, 2018 (the “Expiration Time”), unless extended or earlier terminated. The Tender Offer is made pursuant to an Offer to Purchase dated today, which set forth the terms and conditions of the Tender Offer.
Prospect Capital Corporation (PSEC) (“Prospect”) announced today that Prospect has purchased $75 million of first lien senior secured floating rate notes and $5 million of revolving credit issued to support the acquisition of Eze Castle Integration, LLC (“ECI”) by affiliates of H.I.G. Capital, LLC (“H.I.G.”). Headquartered in Boston and founded in 1995, ECI is a leading provider of managed services and technology solutions to the alternative investment manager and other end user industry markets. ECI delivers premier solutions that meet the high-end technology requirements of its financial services, legal, and other diversified clients.
Prospect Capital Corporation (PSEC) ("Prospect", “our”, or “we”) announced today that it has priced an underwritten public offering of $50 million in aggregate principal amount of 6.25% unsecured notes due 2028 (the “Notes”). UBS Investment Bank, Morgan Stanley and RBC Capital Markets are acting as joint book-running managers for this offering. Citigroup and Ladenburg Thalmann are acting as joint lead managers for this offering.
NEW YORK, May 30, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Northwest ...
WallStEquities.com shifts focus on the Asset Management industry, which manages the financial assets of corporate, institutional, and individual clients. In this morning's lineup are the following stocks: Moelis & Co. (NYSE: MC), Och-Ziff Capital Management Group LLC (NYSE: OZM), Prospect Capital Corp. (NASDAQ: PSEC), and SEI Investments Co. (NASDAQ: SEIC).
Prospect Capital’s (PSEC) PE (price-to-earnings ratio) is 8.32x on a next-12-month basis, which reflects a lower valuation than the peer average of 9.35x.
For a business development company such as Prospect Capital (PSEC), the total number of originations plays a vital role in determining its investment objectives. Prospect Capital focuses on guarding its capital and makes plans to minimize the risk rather than to chase yields.