PFG Investments LLC Buys 606,733 Shares of Prospect Capital Corporation (NASDAQ:PSEC)

PFG Investments LLC grew its position in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 3,430.6% in the first quarter, according to its most recent 13F 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 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. bought a new position in Prospect Capital in the fourth quarter worth $44,000. Envision Financial Planning LLC bought a new position in shares of Prospect Capital during the 4th quarter worth 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 shares of Prospect Capital during the 4th quarter valued at about $62,000. Finally, Ameriflex Group Inc. bought a new stake in Prospect Capital in the fourth quarter valued at about $62,000. Institutional investors and hedge funds own 9.06% of the company's stock.

Insider Transactions at Prospect Capital

In other news, CEO John F. Barry acquired 623,300 shares of Prospect Capital stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $3.19 per share, with a total value of $1,988,327.00. Following the purchase, the chief executive officer now directly owns 83,266,026 shares of the company's stock, valued at $265,618,622.94. The trade was a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 28.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PSEC shares. Wall Street Zen raised Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th. Wells Fargo & Company decreased their price target 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 Price Performance

Shares of PSEC stock traded down $0.01 during trading hours on Tuesday, reaching $3.15. 3,045,607 shares of the company were exchanged, compared to its average volume of 3,040,210. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.40 billion, a price-to-earnings ratio of -3.66 and a beta of 0.85. The stock's fifty day moving average is $3.45 and its two-hundred day moving average is $3.96. Prospect Capital Corporation has a fifty-two week low of $3.10 and a fifty-two week high of $5.65.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Prospect Capital had a positive return on equity of 12.43% and a negative net margin of 36.07%. The business had revenue of $170.72 million for the quarter, compared to analyst estimates of $174.29 million.

Prospect Capital Dividend Announcement

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

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.