Brevan Howard Capital Management LP raised its holdings in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 1,161.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 247,658 shares of the financial services provider's stock after acquiring an additional 228,028 shares during the quarter. Brevan Howard Capital Management LP owned 0.06% of Prospect Capital worth $1,067,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in PSEC. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Prospect Capital in the 4th quarter worth about $44,000. Centurion Wealth Management LLC acquired a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $46,000. Envision Financial Planning LLC purchased a new position in shares of Prospect Capital during the 4th quarter worth approximately $56,000. PFG Advisors acquired a new position in shares of Prospect Capital during the 4th quarter worth approximately $57,000. Finally, Independent Advisor Alliance acquired a new stake in Prospect Capital during the 4th quarter valued at $62,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.
Prospect Capital Trading Down 2.2 %
NASDAQ PSEC traded down $0.08 during trading hours on Friday, hitting $3.54. 3,331,115 shares of the company's stock were exchanged, compared to its average volume of 2,804,370. The business's 50 day moving average is $3.87 and its 200-day moving average is $4.27. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. Prospect Capital Co. has a 12-month low of $3.39 and a 12-month high of $5.72. The firm has a market capitalization of $1.58 billion, a P/E ratio of -17.70 and a beta of 0.93.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. The firm had revenue of $170.72 million during the quarter, compared to the consensus estimate of $174.29 million. Prospect Capital had a net margin of 1.18% and a return on equity of 12.31%.
Prospect Capital Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Wednesday, August 27th will be paid a dividend of $0.045 per share. The ex-dividend date is Wednesday, August 27th. This represents a $0.54 annualized dividend and a yield of 15.25%. Prospect Capital's dividend payout ratio is presently -270.00%.
Insider Transactions at Prospect Capital
In other Prospect Capital news, CEO John F. Barry bought 24,000 shares of Prospect Capital stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $4.24 per share, for a total transaction of $101,760.00. Following the acquisition, the chief executive officer now owns 82,594,540 shares of the company's stock, valued at $350,200,849.60. The trade was a 0.03 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Gremp purchased 19,100 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was bought at an average price of $4.29 per share, with a total value of $81,939.00. Following the completion of the acquisition, the director now owns 75,153 shares in the company, valued at $322,406.37. This represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,548,000 shares of company stock worth $10,970,715 in the last three months. 28.25% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts recently commented on PSEC shares. StockNews.com raised Prospect Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $4.00 to $3.50 and set an "underweight" rating for the company in a research report on Monday, April 28th.
Check Out Our Latest Analysis on Prospect Capital
Prospect Capital Company Profile
(
Free Report)
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.
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