Prospect Capital Corp (PSEC)

[Sone]

Wow a beat?!!

[dee44]

Time for the $5.00 special

[AhoohA]

( On hindsight, ) I also prefer to have sold @ US$ 9(.50) ( nearly 100% profit then ) instead of US$ 7.00 a few months ago. But well, still got 50% profit out of it ( US$ 6.00 average + appr. 2 years of PREVIOUS dividends. I myself won't get back into this 1 ( personally @ SNH, OBE, UNIT & IVN + IPAS ( and ISPR ) currently ), ('but') GOOD LUCK TO YOU ALL !

Greetings from The Netherlands,

Ahoo

[fourdint]

I have a buy in at 6.40 ... not a bad entry point but under 5.00 is sweeter for sure. I should have sold all what I have when it was around $9 -- O-well. But I have faith it will climb up north again. Until then, I'll buy the cheap stuff ... I'll average down if it drops lower.

[oxnous]

I may join you if my largest position has news soon. I would need to move around some money to get into PSEC.

[Don'tDrinkTheKoolAid]

Getting close to my entry of 6.39

[Don'tDrinkTheKoolAid]

They probably are.

[fourdint]

He does know something, everyone does, and it was a substantial amount he has been accumulating. Perhaps he knows a little history and is waiting for history to repeat? What he buys removes some of what is available, effects float, that in-turn can effect price? perhaps he just likes the yield and figures he can maintain it? perhaps he is slowly accumulating votes to eventually have say to liquidate at a nice 30% profit? Hard to say, but I can say someone doesn't buy that amount without a reason -- naive to think there isn't some reason???

I own some and also have GTC buys in that haven't quite hit their limit. I figure he bought at $7+ so he doesn't see that as the ceiling level but more as a floor level, although not absolute floor. Anyway, I can buy and wait till it get back to his level and beyond and collect the divy while waiting. And I do believe it can get withing 15% of book.

[oxnous]

I suspect the boosters over there are very, very close with the CEO. Maybe living in the same house. LOL

[Don'tDrinkTheKoolAid]

Tell that to the Eltp message board. Their ceo has so
Many self deals I can’t keep track. Yet the mb folks love the guy.

[oxnous]

Which is why I am not in PSEC now. Greed is not an incentive to ethically be compensated.

[srains]

None of use do

[Don'tDrinkTheKoolAid]

I thought he knew something apparently not.

[srains]

Who knows? Maybe this is some great scam that I cannot figure out. The CEO has added 9 million shares in a less than 4 months. He is a 65 year old Princeton and Harvard Law School graduate and getting close to retirement and the company just beat numbers. Maybe this guy does not know what he is doing buying all of this stock before it drops to $6 but I think most of these kinds of guys are shady enough to not buy when it is going down and to wait until they know where the thing is headed long term.

[AhoohA]

Managements' fees ALL goes directly into their OWN pockets, whereas dividend increase would be divide(n)d over all the shares, which means they would 'only' get part of.

( Why otherwise do you think they've been doing this for all the(se) years ? )

[Don'tDrinkTheKoolAid]

Weird he wasn't buying when it fell all the way down to 6.

[srains]

Insider buying continues

BARRY JOHN F Officer 02/09/2018 Buy direct 467,178 6.7308 33,259,333

[oxnous]

If management would cut their fees--to make it possible for a dividend increase--management would benefit from the price increase in their PSEC holdings value.

[Don'tDrinkTheKoolAid]

I missed my entry back at 6 buh bye I won't chase it. It will be back at 6 again give a month or 2

[srains]

It is holding up in a crap market, jump back in.

[AhoohA]

Nah, I personally think it won't ( longterm ) because :

NAV & NII still decreased YOY basis, as ( mainly ) has been for years.
Very likely 1-off increase because of tax thingy.
A skunk with rabies ( getting a small 1-off shot ) still will be a dying skunk with rabies...
Unless it will be 'cured' from its 'rabies' : Current management + its fees.
( Fat chance. )

( Sell on the news situation ? )

Still : All the best !

:)

[Don'tDrinkTheKoolAid]

Figures I sold it 6.39 and didn't buy it back at 6.00 :( lol. Watch it go now.

[Sone]

Wow they beat!!

[Don'tDrinkTheKoolAid]

Don't know we will have to wait and see and then buy the 3x bull ETF.

[blackcat]

The concern at the moment is what is the bottom for the market. We are past profit taking- so if you want to add- wait for a turn-around and if you want to sell- consider what your losses will be.

[Don'tDrinkTheKoolAid]

What’s the bottom on this?

[Don'tDrinkTheKoolAid]

haha yeah all depends when you buy, if you don't get good entries all stocks will take you down. ENTRY ENTRY ENTRY most definitely timing has to be right. When this was $5.51 that was a great entry. Wait for under 6 again.

[Don'tDrinkTheKoolAid]

haha yeah all depends when you buy, if you don't get good entries all stocks will take you down. ENTRY ENTRY ENTRY most definitely timing has to be right. When this was $5.51 that was a great entry. Wait for under 6 again.

[AhoohA]

I didn't tell you 'so'...

'LOL'
XD

All the best !

[Don'tDrinkTheKoolAid]

PSEC down in the dumps again. All that buying by the CEO COO was meaningless.

[Don'tDrinkTheKoolAid]

Link please they are buying stock back? I know the ceo is buying form 4’s. That is not the same as a stock buy back.

[srains]

Just started a position today. I know the div was cut but it is a value at this level, very consistent and you have huge insider buying

[wooferwax]

wow! If the current float is 334milly and management is currently removing .5 to 1 million a day!? Seems like we should be rocketing up. I know the financial forcasts are not that great for PSEC, but the reduced share count should counter this. Thoughts about this massive buying from management. Does anyone think they could take it private as suggested here?

[AhoohA]

( Mainly ) Because I wanted to get rid of it & don't think this is ( a ) lasting ( 1 ).

[Don'tDrinkTheKoolAid]

Why sell on a breakout?

[AhoohA]

I don't know what you consider long, but I've been in this for ( a little bit over ) 2 years now & after average purchase price of 6.00 + 2 years collection of dividends, am out @ 7.00 since yesterday.
My piece of advice : Read ( Seeking Alpha's Scott Kennedy ( regarding prices etc. & )) my post # 818 again ( if I remember correctly, they purchased (appr.) US$ 50 million worth of stock @ (dec./end)2015 ).
( And check out REIT's UNIT & CBL for currently appr. 14% dividends AND much higher chance of SP increase. )
Good luck (from NL) & happy holidays to y'all !

[Don'tDrinkTheKoolAid]

REVERSE H&S pattern break out from the neck line target is the same amount from the bottom of the head added to the neck line about 7.70-8.0 price target. With 10% divvy monthly to boot.

[blackcat]

If it were just a regular stock I would think he was buying it up to take it private, but.............

[wooferwax]

For you guys that have been holding for a long time, is this insider buying the norm? I have held for close to a year and can't believe that mount being bought by Barry. At least not at the rate in which it is being bought. Is he buying the float?..lol

[Don'tDrinkTheKoolAid]

They bought more 12-12 , 12-11, 12-8 again both the top guys. Bunch of form 4's filed.

[Don'tDrinkTheKoolAid]

Looks like a reverse head shoulders pattern formed or forming? Which if you take the low to the neckline 5.51 to say 7.00 could push this back to 8+.
With all the buying recently maybe management has something good to report? Just thinking out loud.

[wooferwax]

you sure?...lol He keeps buying.

[AhoohA]

But even all added up together, they're still PEANUTS on what they ( especially Barry ) make(s) every month / quarter / year etc.
What they SHOULD do is something about that external management fee that's eating away our ( shareholders' ) dropping company NAV value (nearly) EVERY single month...

[wooferwax]

I have never seen so many Form 4s in such a short time. Dude be buying.

[conix]

PSEC could be a tax loss bounce candidate for the January Effect. That bounce recently reduces the potential further bounce, of course. But they need to maintain this distribution rate.

[Don'tDrinkTheKoolAid]

That's some serious money, but I hear he makes about 200 mill a year.

[Sone]

He just bought another million today!!

[Don'tDrinkTheKoolAid]

Barry's DIVVY's alone are $1,513,164 a month 18.157 mill a year @.06

[Don'tDrinkTheKoolAid]

He bought almost a million at 6.97 oh man! IT'S AQUIRED TOO!

Title of Security
(Instr. 3) 2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
COMMON STOCK 11/20/2017 P 995883 A $6.9771 25219412.957 D

[molee]

Here ya go :

https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12398138