Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously. We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders. I wrote this article myself, and it expresses my own opinions. The long term dividend payout is also not exactly the sign of a healthy and growing business: Prospect Capitals net asset value and dividends have declined while the number of outstanding shares have increased steadily which is why slides from IR like this one should not fool you , (Source: Prospect Capital IR Presentation). PSEC Prospect Capital Corporation Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) . this opinion is subject to the same assumptions and qualifications stated in the letter . To Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. As can be observed in the graph above, one factor that explains why PSEC holds such a low PE ratio is that its sharp increase in EPS was not matched by an equivalent rise in its market price. Start of book advance disbursements. We target delivering current income and long-term capital appreciation with an emphasis on diversified portfolios, proprietary investment origination, and a disciplined, rigorous investment process. To obtain a prospectus, please contact your investment representative or Preferred Capital Securities at (855) 422-3223, or e-mail investorservices@pcsalts.com investorservices@pcsalts.com +1 855 422-3223 U.S. middle market businesses across a range of industries, and seek The fluctuating market conditions have altered investor sentiment, bringing income-generating stocks to the limelight. Price as of January 17, 2023, 4:00 p.m. The total asset holding of Prospect Capital exceeds the $7 billion figure and has funded over 375 investments as of April 2022. An established private debt and equity manager with $8.6 billion of capital under management as of 9/30/2022 across multiple strategies. Occasionally, it has also issued shares below book value. This information page does not constitute an offer to sell or a solicitation of an offer to Prospect Capital Management. More than 54,000 readers follow Prospect Capital (NASDAQ:PSEC) on Seekingalpha.com. Where the Zacks Consensus anticipated its Q2 earnings for 2021 as being set at $0.16 per share, the company delivered a 31.25% surprise by reporting $0.21 per share. Prospect Capitals loan performance has been, in summary, pretty decent over the last year. An employer may attempt to encourage an at-will . Anybody else get a letter from Prospect Capital to contact them about an important " initiative"? PSEC price has remained relatively stable from March 2021 to March 2022, gaining a modest 10% throughout the year. I believe we now have tools in place to achieve that goal. PROSPECT'S RECORDS INDICATE THAT YOU HAVE NOT YET VOTED. We make debt and equity investments in U.S. middle market businesses across a range of industries, and seek to deliver steady, attractive returns to our shareholders. The letter also outlines things like the amount provided by the lender, the duration of granting the sum . BDCs are generally risky stocks as 2019 has shown. approach to investing in the U.S. middle market. Actual developments and results are highly likely to vary materially from any forward-looking statements. Please disable your ad-blocker and refresh. 10 East 40th Street, 42 nd Floor, New York, NY 10016 [DATE] Dear Shareholder: Prospect Capital Corporation (NASDAQ: PSEC) recently sent to you proxy material regarding the upcoming Annual Meeting of Shareholders. MERS, H1N1, and now the Wuhan virus. 1. In today's bloated stock market, a discount as big as this is worth taking a look. Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. reflate from the 3/23/20 low in the S&P 500, which as of May 8, "Prospect Capital Corporation 2021 Annual Meeting . . Sie knnen Ihre Einstellungen jederzeit ndern. Taking a closer look into the competitive standing for PSEC amongst similarly sized capital management companies, we see that in comparison, the stock is significantly undervalued. I think Prospect Capital should be buying back . Reply. On a per-share basis, this jump was from $8.96 per share to $10.60 per share in 12 months. The investment company is regulated as a business development company under the Investment Company Act of. And that is why I This further suggests that the stock is heavily undervalued. Markets are forward looking; a low price helps offset the future impact of capital losses in the portfolio. Very exciting. Learning something from each Prospect CEO Writes Letter to Shareholders May 12, 2020, 3:00 AM NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation ("Prospect") ( PSEC) announced today that. Notice of application for an order under sections 17(d) and 57(i) of the Investment Company Act of 1940 (the "Act") and rule 17d-1 under the Act to permit certain joint transactions otherwise prohibited by sections 17(d) and 57(a)(4) of the Act and rule 17d-1 under the Act. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. We are among the leading providers of What it doesProspect Capital is a business development company, required by law to pay out virtually all of its income as dividends. 1000 pts to play with on Derby Wars. If you need a form that is not provided under any of the case types listed below, please contact any justice court from our Locations page. Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.6 billion of assets under management as of 9/30/2022. Officer Our investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. As the markets are forward-looking by their nature, the company's history of generating more capital losses than gains may be just one of many factors behind its low valuation -- Prospect Capital currently trades at about 0.82 times its net asset value. I feel honored, but am oh so curious as to what it is regarding. Prospect Capital Corporation ("Prospect") (NASDAQ: PSEC) announced today that Prospect's CEO issued a letter to shareholders. These can be summarized in the three following dimensions: The most significant area of focus about PSEC is its high yield characteristic, which it ensures through its strategic focus on high-income investment opportunities. Last but certainly not least, Prospect Capital still runs a solid business. increase our NAV, NII, and share price. Tomette Vendeenne Cheese, The company specializes in a range of financial areas, through. The full text of the letter follows: "Ive missed more than 9,000 shots in my career. Reform Act of 1995, whose safe harbor for forward-looking In the latest trading session, Prospect Capital (PSEC) closed at $7.09, marking a -0.98% move from the previous day. NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Prospect Capital Corporation (Nasdaq: PSEC) (the "Company") announced today that its annual meeting of stockholders, scheduled for Wednesday . Prospect Capital Corporation is a mid-sized American business development firm, operating within the North American mid-markets. The short answer is that an at-will employee is not required to provide two weeks' notice before quitting. Certain information discussed in this presentation (including information relating to 2. Coupled with the companys DRIP program, PSEC shareholders are exposed to compounding value enhancement well into the long term. Powered By Prospect Capital (NASDAQ:PSEC) slumps 2.6% in heavy trading after one of its portfolio companies, United Sporting Companies, filed for Chapter 11 bankruptcy earlier in the week.Yesterday,. launched our first public fund, we have weathered stock market Prospect Capital currently has a net asset value -- book value -- of $10.35 per share, substantially below its net asset value per share of $13.67 at the end of its first ever reporting quarter in . New York, NY 10001. michael.hoffman@skadden.com. In a world where certificates of deposit pay less than 1%, high-yielding stocks like Prospect Capital(NASDAQ: PSEC) appear to be a compelling alternative. Dear Messrs. Hoffman and Burdon: This is in regard to your letter dated June 23, 2020 concerning the shareholder proposal submitted by Mark S. Cane for inclusion in Prospect . Dear (Name), I'm a freelance marketing consultant and I've been asked to write you this letter in order to introduce myself, my company and the services . distribution. PSEC is well suited for long-term investors, looking to enhance their capital despite short-term movements. As Prospects largest shareholder, I want to increase our NAV, NII, and share price. capital to the middle market. Over time, you want to see that a BDC can generate investment income to pay a regular dividendand generate capital gains from its winners to cover losses from its losers. Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and middle-market buyouts. To provide more financial flexibility, we elected 150% minimum regulatory asset coverage and, as in the past, are seeking approval from shareholders for a one-year option to issue shares below NAV, which enabled us to acquire Patriot. 4. The improvement led to a renewed sense of optimism surrounding the stock, with market participants anticipating this impressive performance to maintain, and lead to value addition. Grier Eliasek, President and Chief Operating Past performance does not guarantee future results and current performance may be lower or the registration or qualification under the securities laws of such state or jurisdiction. "Prospect Capital Corporation 2021 Annual Meeting . Therefore, it really helps to see Prospect Capital as a closed-end investment fund. You need a Web search API, an image search API, or an e-mail search API? and regulations. original cost. The full text of the letter follows: Fellow Owners: "I've missed more than 9,000 shots in my career. As a result, when the market overall undergoes a dip, it is unlikely for Prospect Capital Shareholders to sell their stock, and instead, choose to be paid a higher amount of PSEC shares during the downtime. Confirm you're a human. ratings from Standard & Poors, Moodys, Kroll, and Egan Jones. With a tough year behind us but a potentially eventful one in front of us, investors may want to target the best monthly dividend stocks to buy to get 2023 off on the right foot. Please disable your ad-blocker and refresh. Similarly, PSEC holds the lowest Price-to-Book ratio on the list, by a substantial margin, which is below 1. Total 18 Results; Google Api; Bing Api; Home - Prospect Capital Management 1 week ago Web Prospect Capital Management is an established private debt and equity manager with more than 30 years of experience and $8.4 billion of assets under management as of In a low yield world, companies that pay high dividends are desired, but very often this dividend comes at the price of growing total shareholder value. Priority currently pays a 9.9% annualized distribution paid monthly. Prospect Capital Corporation is a leading publicly-traded Business Development Company ("BDC"). Is this happening to you frequently? such statements, other than statements of historical fact, are For this reason, it may be prudent to assume that not all of the dividends you receive from Prospect Capital are "income" in true form. By investing in our people first, we ensure that the best decisions are being made on all levels. 26 times, I've been trusted to take the game winning shot and missed. The portfolio overview in the next slide shows that Prospect Capital has few investments in the energy, hotel and retail sectors which are considered to be risky and dont really fit into a portfolio of investments that are required to create stable interest income to fund a stable dividend. How it makes moneyBusiness development companies can make money in two ways: recurring dividend and interest payments, and capital gains or losses, from their investments. Such statements speak only as of the time when There are some reasons for this trend the BDC issued a lot of shares over time, diluting shareholders . Prospect Capital Corporation (PSEC) Stock Price, News, Quote & History - Yahoo Finance S&P 500 +15.92(+0.40%) Dow 30 34,302.61 +112.64(+0.33%) Nasdaq 11,079.16 +78.05(+0.71%) Russell 2000. *Average returns of all recommendations since inception. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. Klicken Sie auf Einstellungen verwalten um weitere Informationen zu erhalten und Ihre Einstellungen zu verwalten. For questions on payment refunds, please contact Ellen Litteral at (217) 465-4154. It says: IMPORTANT NOTICE. Prospect Floating Rate and Alternative Income Fund. Development Company (BDC). Prospect Capital has $5.7 billion in 122 separate investments mostly senior secured investments with 69% of the portfolio comprised of 1st lien and other senior secured debt. Increase our NAV, NII, and it expresses my own opinions opinion is subject to same..., in summary, pretty decent over the last year a discount as big as prospect capital important notice letter is taking! And Egan Jones margin, which is below 1 the last year what it regarding! Primary investment strategies include middle-market direct lending, real estate private equity, structured credit, and no plans initiate! Trusted to take the game winning shot and missed value enhancement well into long. 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