Cubist Systematic Strategies LLC Acquires New Holdings in Prospect Capital Co. (NASDAQ:PSEC)

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

Other institutional investors have also recently made changes to their positions in the company. Balyasny Asset Management L.P. grew its stake in Prospect Capital by 6,177.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider's stock worth $10,684,000 after purchasing an additional 2,439,426 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Prospect Capital in the 4th quarter valued at approximately $7,880,000. Envestnet Asset Management Inc. lifted its stake in Prospect Capital by 4,160.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock worth $4,080,000 after acquiring an additional 924,428 shares in the last quarter. Naviter Wealth LLC purchased a new stake in shares of Prospect Capital during the fourth quarter worth approximately $2,216,000. Finally, Trexquant Investment LP purchased a new stake in Prospect Capital in the fourth quarter valued at $1,429,000. Hedge funds and other institutional investors own 9.06% of the company's stock.

Insider Activity

In other news, Director William Gremp purchased 19,100 shares of the company's stock in a transaction dated Tuesday, March 18th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the transaction, the director now directly owns 75,153 shares in the company, valued at $322,406.37. This represents a 34.07% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO John F. Barry acquired 240,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $344,324,118.60. This represents a 0.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,548,000 shares of company stock worth $10,970,715 in the last quarter. Corporate insiders own 28.25% of the company's stock.

Prospect Capital Stock Performance

Shares of PSEC stock traded down $0.05 during trading hours on Wednesday, hitting $3.59. 859,752 shares of the company were exchanged, compared to its average volume of 2,845,764. The firm has a fifty day simple moving average of $3.78 and a 200 day simple moving average of $4.19. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. Prospect Capital Co. has a 52-week low of $3.39 and a 52-week high of $5.72. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -17.93 and a beta of 0.93.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. Prospect Capital had a net margin of 1.18% and a return on equity of 12.31%. The business had revenue of $170.72 million for the quarter, compared to analysts' expectations of $174.29 million.

Prospect Capital Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.045 per share. The ex-dividend date is Wednesday, May 28th. Prospect Capital's dividend payout ratio (DPR) is -62.79%.

Analysts Set New Price Targets

PSEC has been the topic 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 cut their target price on shares of Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a research report on Monday, May 12th.

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.