Prospect Capital Corporation (PSEC) reported quarterly earnings results on Tuesday, May-10-2016. The company reported $0.25 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $0.26. The company posted revenue of $189.50 million in the period, compared to analysts expectations of $195.34 million. The company’s revenue was down -1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.
Many Wall Street Analysts have commented on Prospect Capital Corporation. Shares were Reiterated by RBC Capital Mkts on Feb 11, 2016 to “Sector Perform” and Lowered the Price Target to $ 9 from a previous price target of $10 .Prospect Capital Corporation was Downgraded by Raymond James to ” Underperform” on Feb 11, 2016.
Prospect Capital Corporation opened for trading at $7.35 and hit $7.41 on the upside on Friday, eventually ending the session at $7.38, with a gain of 0.14% or 0.01 points. The heightened volatility saw the trading volume jump to 10,68,186 shares. Company has a market cap of $2,625 M.
In a different news, on Mar 3, 2016, M Grier Eliasek (COO) purchased 15,000 shares at $7.25 per share price. According to the SEC, on Feb 24, 2016, John F Barry (CEO) purchased 1,100,000 shares at $6.95 per share price. On Dec 16, 2015, Brian H Oswald (CFO) purchased 10,000 shares at $6.30 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.