Prospect Capital Trades Lower on Q4 Results

Shares of Prospect Capital

are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 1.21%, trading at $8.99; they ended the regular session higher by 3.53%, at $9.10. Prospect Capital reported Q4 EPS of $0.31; the Street was looking for $0.36 per share. The company issued in-line guidance for Q1, saying it sees EPS in the range of $0.25-0.30; the Street was at $0.27. The company spokesperson stated, “In addition to targeting investments senior in corporate capital structures with our new originations, we have also increased our new investments in third party private equity sponsor owned companies, which tend to have more third party equity capital supporting our debt investments than in non-sponsor transactions, while still maintaining flexibility to pursue attractive non-sponsor lending, one-stop buyouts, and secondary acquisitions.” “With our scale team of more than 40 professionals, one of the largest dedicated middle-market credit groups in the industry and focused on Prospect Capital Corporation, we are well positioned to select in a disciplined manner a small number of investments out of thousands of investment opportunities sourced per annum.” Prospect Capital Corporation is a financial services company that lends to and invests in middle market privately-held companies. The company is a closed-end investment company.