Anton Petrus/Moment via Getty Images The stability of Prospect Capital’s (NASDAQ:PSEC) net asset value was at stake going into its fiscal 2024 second-quarter earnings. This figure had been dipping in the quarters preceding and fell by 33 cents to $8.92 per share during the second quarter or to $3.68 billion on a nominal basis. PSEC’s…
Peach_iStock There has been an increased chatter around private credit players and how they are poised to benefit from the current tailwinds that are associated with higher interest rate environment and more risk-averse (regulated) traditional banking sector. Since the Fed decided to become more restrictive, the overall BDC space has gone nowhere but up, outperforming…
Gian Lorenzo Ferretti Photography The Fed is done raising rates which means 2024 offers business development companies a dynamic and perhaps more difficult macroeconomic environment to generate investment income. The current Fed funds rate at 5.25% to 5.50% is also likely to have been cut by 50 to 100 basis points by the end of…
PM Images I wrote an article about Prospect Capital (NASDAQ:PSEC) on July 7 (article can be read by clicking here) as its valuation had gotten very interesting. In the article, I indicated that I wanted to wait until their fiscal Q4 earnings were released so I could see some additional data prior to starting a…
Denis-Art/iStock via Getty Images This article discusses the recently reported results for Prospect Capital Corporation (NASDAQ:PSEC) and is a follow-up to the previous article comparing it to FS KKR Capital (FSK): Similar to last year, Prospect Capital has filed an NT 10-K indicating that the company and its auditor: “require additional time to complete the…