Bank of America just raised its EUR/USD forecast
John F. Barry III, Chief Executive Officer of Prospect Capital Corp (NASDAQ:PSEC), has acquired an additional 2 million shares of the company’s common stock, according to a recent SEC filing. The business development company, with a market capitalization of $1.86 billion, currently offers a substantial 12.7% dividend yield and has maintained dividend payments for 22 consecutive years, according to InvestingPro data. The purchase, executed on March 11, 2025, was made at prices ranging from $4.31 to $4.33 per share, totaling approximately $8.64 million. The acquisition comes as the stock trades near its 52-week low of $4.09, with relatively low volatility indicated by its beta of 0.94. Following these transactions, Barry’s direct ownership in the company increased to over 81.5 million shares. For deeper insights into PSEC’s valuation and additional ProTips, visit InvestingPro.
In other recent news, Prospect Capital Corporation reported its fourth-quarter 2024 earnings, revealing a notable shortfall with an earnings per share (EPS) of -$0.07, significantly missing the forecast of $0.14. The company’s revenue also fell short of expectations, totaling $185.5 million against the anticipated $197.7 million. Despite these results, the company’s net investment income was robust at $86.4 million, or $0.20 per share, indicating a strong income stream. Prospect Capital continues to emphasize its focus on first lien debt, which now comprises 64.9% of its portfolio. In terms of analyst activity, there were no specific upgrades or downgrades mentioned, but the company’s strategic moves continue to be under observation. The company plans to maintain its strategy of rotating assets into first lien senior secured middle market loans. Executives highlighted their approach to generating attractive risk-adjusted yields and noted a reduction in counterparty risk. Additionally, Prospect Capital has announced monthly common shareholder distributions of $0.045 per share for February, March, and April.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.