Prospect Capital Corporation(NASDAQ:PSEC) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Aug 29, 2016. Company reported revenue of $193.04M. Analysts estimated a revenue of $188.09M. Earnings per share were $0.25. Analysts had estimated an EPS of $0.25.
In a different note, On Jul 20, 2016, National Securities said it Downgrades its rating on Prospect Capital Corporation. The shares have been rated ‘Sell’ by the firm.
Prospect Capital Corporation (PSEC) shares turned negative on Thursdays trading session with the shares closing down -0.11 points or -1.28% at a volume of 33,51,642. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.58. The peak price level was also seen at $8.58 while the days lowest was $8.39. Finally the shares closed at $8.5. The 52-week high of the shares is $8.68 while the 52-week low is $5.21. According to the latest information available, the market cap of the company is $3,041 M.
Prospect Capital Corporation has also declared a cash dividend of $0.0833 on Aug 25, 2016. The shares will quote ex-dividend on Sep 28, 2016 and the record date has been fixed on Sep 30, 2016. The dividend payable date has been fixed on Oct 20, 2016.
Several Insider Transactions has been reported to the SEC. On May 16, 2016, Eugene S Stark (director) purchased 1,000 shares at $7.45 per share price.Also, On Mar 3, 2016, M Grier Eliasek (COO) purchased 15,000 shares at $7.25 per share price.On Feb 24, 2016, John F Barry (CEO) purchased 1,100,000 shares at $6.95 per share price, according to the Form-4 filing with the securities and exchange commission.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions divestitures growth development recapitalizations and other purposes. The Company primarily lends to and invests in middle market privately-held companies. Its investments include lending in private equity sponsored transactions; lending directly to companies not owned by private equity firms; control investments in corporate operating companies; control investments in financial companies; investments in structured credit; real estate investments; investments in syndicated debt; aircraft leasing and online lending. The Company is managed by its investment adviser Prospect Capital Management L.P.