Cubist Systematic Strategies LLC Makes New Investment in Prospect Capital Co. (NASDAQ:PSEC)

Cubist Systematic Strategies LLC acquired a new stake in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 160,882 shares of the financial services provider's stock, valued at approximately $693,000.

Several other institutional investors also recently bought and sold shares of PSEC. Nomura Asset Management Co. Ltd. acquired a new stake in Prospect Capital during the fourth quarter worth about $44,000. Centurion Wealth Management LLC purchased a new stake in Prospect Capital in the fourth quarter valued at $46,000. Envision Financial Planning LLC purchased a new stake in shares of Prospect Capital in the 4th quarter valued at about $56,000. PFG Advisors acquired a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $57,000. Finally, Independent Advisor Alliance purchased a new position in Prospect Capital during the 4th quarter worth $62,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSEC has been the subject of a number of analyst reports. StockNews.com upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company reduced their target price on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating on the stock in a research note on Monday, May 12th.

Prospect Capital Trading Down 0.5%

Shares of PSEC stock traded down $0.02 during mid-day trading on Monday, hitting $3.67. 3,249,238 shares of the company's stock were exchanged, compared to its average volume of 2,848,139. The stock has a 50-day simple moving average of $3.80 and a two-hundred day simple moving average of $4.21. Prospect Capital Co. has a fifty-two week low of $3.39 and a fifty-two week high of $5.72. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -18.35 and a beta of 0.93. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. The company had revenue of $170.72 million for the quarter, compared to analyst estimates 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 firm also recently announced a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be given a dividend of $0.045 per share. The ex-dividend date is Wednesday, May 28th. Prospect Capital's payout ratio is -62.79%.

Insider Buying and Selling at Prospect Capital

In other news, Director William Gremp purchased 19,100 shares of Prospect Capital stock in a transaction dated 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. The trade was a 34.07% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Barry purchased 240,000 shares of Prospect Capital stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $4.20 per share, with a total value of $1,008,000.00. Following the transaction, the chief executive officer now directly owns 81,981,933 shares in the company, valued at $344,324,118.60. This trade represents a 0.29% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,548,000 shares of company stock valued at $10,970,715 in the last three months. Corporate insiders own 28.25% of the company's stock.

Prospect Capital Company Profile

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.