PFG Investments LLC Has $2.56 Million Stake in Prospect Capital Corporation (NASDAQ:PSEC)

PFG Investments LLC boosted its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 3,430.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 624,419 shares of the financial services provider's stock after acquiring an additional 606,733 shares during the quarter. PFG Investments LLC owned 0.14% of Prospect Capital worth $2,560,000 at the end of the most recent quarter.

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

Prospect Capital Stock Performance

NASDAQ PSEC traded up $0.01 during trading on Friday, hitting $3.19. The company's stock had a trading volume of 4,361,337 shares, compared to its average volume of 3,035,203. The firm has a market cap of $1.42 billion, a P/E ratio of -3.71 and a beta of 0.85. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. Prospect Capital Corporation has a 52 week low of $3.14 and a 52 week high of $5.65. The firm has a 50 day moving average price of $3.46 and a 200 day moving average price of $3.97.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $170.72 million for the quarter, compared to analysts' expectations of $174.29 million. Prospect Capital had a positive return on equity of 12.43% and a negative net margin of 36.07%.

Prospect Capital Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were paid a $0.045 dividend. This represents a yield of 16.46%. The ex-dividend date of this dividend was Wednesday, May 28th. Prospect Capital's dividend payout ratio is -62.79%.

Analysts Set New Price Targets

PSEC has been the topic of several recent analyst reports. Wells Fargo & Company dropped their price target on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th.

Insider Activity at Prospect Capital

In related news, CEO John F. Barry purchased 24,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average price of $4.24 per share, with a total value of $101,760.00. Following the purchase, the chief executive officer now directly owns 82,594,540 shares in the company, valued at $350,200,849.60. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 28.25% of the stock is owned by insiders.

Prospect Capital 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.