Running data of recent trade: Prospect Capital Corporation (NASDAQ: PSEC)

Prospect Capital Corporation (NASDAQ: PSEC) stock price update

On Wednesday, Prospect Capital Corporation the stock disclosed a move of -9.64% away from 50 day moving average and -10.68% away from 200 day moving average. Moving closer, we can see that shares have been trading -7.84% away off 20-day moving average.  PSEC over recent time; they noted that 2527297 shares changed at hands contradiction to its average trading volume of 2110.47K. Traders and technical analysts have the ability to use volume to help measure the strength of a particular move. Investors may also view volume levels when the stock price is nearing significant support or resistance levels, in order to confirm a breakout in either direction.  The stock changed 1.92% to recent value of $5.83.

Prospect Capital Corporation (PSEC) recently reported financial results for our second fiscal quarter ended December 31, 2019.

For the December 2019 quarter, we earned net investment income (“NII”) of $67.9M, or $0.18 per weighted average share, down from the September 2019 quarter by $0.01 per share. Our ratio of NII to distributions was 103% in the December 2019 quarter.

In the December 2019 quarter, our net of cash debt to equity ratio was 64.1%, down 10.9% from December 2018.

For the December 2019 quarter, our net loss was $11.2M, or $0.03 per weighted average share.

Our net asset value (“NAV”) per share reduced by $0.21 to $8.66 during the December 2019 quarter.

On September 9, 2019, we completed an amendment of our existing revolving credit facility (the “Facility”) for Prospect Capital Funding, extending the term 5.0 years from such date. Pricing for amounts drawn under the Facility is one-month Libor plus 2.20%.

$1.0775B of Facility commitments have closed to date with 30 institutional lenders (representing one of the largest and most diversified bank groups in our industry). An accordion feature allows the Facility, at Prospect’s discretion, to accept up to $1.5B of commitments. The Facility matures September 9, 2024. The Facility includes a revolving period that extends through September 9, 2023, followed by an additional one-year amortization period, with distributions allowed to Prospect after the completion of the revolving period.

On June 28, 2019, we commenced a tender offer to purchase $224.1M of our convertible notes that mature in April 2020 (“2020 Notes”). On July 27, 2019, $32.9M was validly tendered and accepted, representing 14.7% of the outstanding notes. On August 12, 2019, we commenced a tender offer to purchase up to $60.0M of the 2020 Notes. On September 10, 2019, $13.6M was validly tendered and accepted, representing 7.1% of the outstanding notes. On September 24, 2019, we commenced a tender offer to purchase up to $40.0M of the 2020 Notes. On October 23, 2019, $2.1M was validly tendered and accepted, representing 1.2% of the outstanding notes.

On November 7, 2019, we commenced a tender offer to purchase up to $10.0M of the 2020 Notes. On December 7, 2019, $0.4M was validly tendered and accepted, representing 0.2% of the outstanding notes. On December 23, 2019, we commenced a tender offer to purchase up to $10.0M of the 2020 Notes. On January 23, 2020, $2.2M was validly tendered and accepted, representing 1.3% of the outstanding notes.

On November 7, 2019, we commenced a tender offer to purchase up to $50.0M of our convertible notes that mature in July 2022 (“2022 Notes”). On December 6, 2019, $13.4M was validly tendered and accepted, representing 4.4% of the outstanding notes. On December 23, 2019, we commenced a tender offer to purchase up to $25.0M of the 2022 Notes. On January 23, 2020, $1.3M was validly tendered and accepted, representing 0.5% of the outstanding notes.

We presently have eight separate unsecured debt issuances aggregating $1.5B outstanding, not including our program notes, with laddered maturities extending to June 2029. At December 31, 2019, $622.4M of program notes were outstanding with laddered maturities through October 2043.

Analyst Review:

Analyst recommendations as reported on FINVIZ are rated on a 1 to 5 scale. 1 is equivalent to a Strong Buy rating, 3 a hold rating, and 5 a Strong Sell rating. The consensus recommendation is the average rating on a stock by the analyst community.  Analyst mean recommendation for this stock stands at 3. A stock rating will usually tell the investor how well a stock’s market value relates to what analysts believe is a fair value for the stock, based on an objective evaluation of the company.

PSEC ’s shares are at -10.31% for the quarter and driving a -12.20% return over the course of the past year and is now at -9.47% since this point in 2019. The average volatility for the week and month was at -5.05% and -10.45% respectively.

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