New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 26, 2013
07:05 EDTHTGC, ACAS, PNNT, PSEC, BKCC, GBDC, MCC, HRZN, AINV, NMFC, ARCC, TCRD, TICCBDC sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Business Development Companies sector to Market Weight from Overweight citing valuations and elevated risks in the credit markets. Along with the sector, Wells downgraded Apollo Investment (AINV), Prospect Capital (PSEC) and TICC Capital (TICC) to Underpeform from Market Perform, as well as Horizon Technology (HRZN), PennantPark (PNNT), THL Credit (TCRD) and Medley Capital (MCC) to Market Perform from Outperform. The firm has Outperform ratings on American Capital (ACAS), Ares Capital (ARCC), Golub Capital (GBDC), Hercules Technology (HTGC) and New Mountain Finance (NMFC), and keeps an Underperform rating on BlackRock Kelso (BKCC).
News For AINV;PSEC;TICC;HRZN;PNNT;TCRD;MCC;ACAS;ARCC;GBDC;HTGC;NMFC;BKCC From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 18, 2014
16:02 EDTTICCTICC Capital adopts $50M stock repurchase program
Subscribe for More Information
10:01 EDTARCCOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:58 EDTARCC, HTGC, GBDCBusiness development companies oversold, says Wells Fargo
Subscribe for More Information
05:46 EDTPSECProspect Capital downgraded to Equal Weight from Overweight at Barclays
Subscribe for More Information
05:45 EDTARCCAres Capital upgraded to Overweight from Equal Weight at Barclays
Subscribe for More Information
December 17, 2014
07:51 EDTGBDCGolub Capital initiated with a Neutral at BofA/Merrill
Subscribe for More Information
December 16, 2014
08:08 EDTAINVApollo Investment weakness a buying opportunity, says UBS
Subscribe for More Information
December 15, 2014
10:25 EDTPSECProspect Capital to host business news update conference call
Subscribe for More Information
08:13 EDTHTGCADMA Biologics receives $5M tranche from Hercules Technology
Subscribe for More Information
December 11, 2014
09:22 EDTAINVBDCs weakness creates buying opportunity, says SunTrust
Subscribe for More Information
December 10, 2014
10:00 EDTMCCOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:26 EDTMCCMedley Capital downgraded to Hold from Buy at Maxim
Subscribe for More Information
08:09 EDTMCCMedley Capital downgraded to Hold from Buy at Maxim
Subscribe for More Information
December 9, 2014
10:27 EDTPSECOptions with increasing implied volatility
Subscribe for More Information
December 8, 2014
16:44 EDTMCCMedley Capital reports Q4 EPS 37c, consensus 38c
Reports Q4 NAV $12.43 per share. Q4 Gross investment originations of $299.4M.
15:19 EDTMCCNotable companies reporting after market close
Subscribe for More Information
10:42 EDTPSECOptions with increasing implied volatility
Subscribe for More Information
09:20 EDTPSECOn The Fly: Pre-market Movers
Subscribe for More Information
08:43 EDTPSECProspect Capital suspends ATM equitiy issuance, reduces dividends
Prospect Capital announced that, in light of current share price levels, Prospect has suspended at-the-market equity issuances for the indefinite future. Prospect will continue to take a disciplined approach to any future potential equity issuance, the company said. As of September 30, Prospect's asset concentration in the energy industry stood at 5.1%, including Prospect's first lien senior secured loans where third parties bear first loss capital risk. As of December 31, 2013, Prospect's loan non-accrual rate stood at 0.32%, weighted average portfolio net leverage stood at 4.49 times earnings before interest, taxes, depreciation, and amortization and trailing twelve month first lien origination mix stood at 58.3%. Prospect announced it has declared reduced monthly cash dividends to shareholders in the following amounts and with the following record and payment dates: 8.333c per share for February 2015, with a record date of February 27, 2015 and payment date of March 19, 2015; 8.333c per share for March 2015, with a record date of March 31, 2015 and payment date of April 23, 2015; and 8.333c per share for April 2015, with a record date of April 30, 2015 and payment date of May 21, 2015. "As our updated credit statistics show, we have elected in the past year to take on less risk and focus on higher earnings quality by increasing our percentage of first lien loans and accepting lower interest rates in this yield compressed environment. We have not chased higher yields that we believe do not compensate for risk. While we have more than covered our prior dividends out of taxable earnings, we are reducing the next three declared dividends from past levels because we believe we should pay a dividend that is no more than our minimum expected net investment income, based on our expectations over the next twelve months," said John Barry III, Chairman and CEO of Prospect.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use