Two Sigma Advisers LP Boosts Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

Two Sigma Advisers LP raised its holdings in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 1,149.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 313,600 shares of the financial services provider's stock after purchasing an additional 288,500 shares during the quarter. Two Sigma Advisers LP owned 0.07% of Prospect Capital worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kovack Advisors Inc. boosted its stake in shares of Prospect Capital by 1.9% in the fourth quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider's stock worth $625,000 after buying an additional 2,732 shares during the last quarter. Modern Wealth Management LLC lifted its holdings in Prospect Capital by 9.3% in the fourth quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider's stock valued at $136,000 after acquiring an additional 2,774 shares during the period. Cutter & CO Brokerage Inc. lifted its holdings in Prospect Capital by 27.8% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 3,467 shares during the period. Global Assets Advisory LLC boosted its position in Prospect Capital by 33.4% in the 4th quarter. Global Assets Advisory LLC now owns 15,998 shares of the financial services provider's stock worth $69,000 after purchasing an additional 4,006 shares in the last quarter. Finally, Tcfg Wealth Management LLC grew its stake in shares of Prospect Capital by 1.7% during the 4th quarter. Tcfg Wealth Management LLC now owns 269,580 shares of the financial services provider's stock worth $1,162,000 after purchasing an additional 4,396 shares during the period. 9.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PSEC shares. Wells Fargo & Company decreased 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 note on Monday, May 12th. Wall Street Zen upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th.

Insider Activity

In other news, CEO John F. Barry acquired 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $4.32 per share, for a total transaction of $8,640,000.00. Following the acquisition, the chief executive officer now owns 81,501,933 shares in the company, valued at approximately $352,088,350.56. This represents a 2.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Gremp bought 19,100 shares of Prospect Capital stock in a transaction on Tuesday, March 18th. The shares were purchased at an average cost of $4.29 per share, with a total value of $81,939.00. Following the acquisition, the director now directly owns 75,153 shares of the company's stock, valued at approximately $322,406.37. The trade was a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,548,000 shares of company stock worth $10,970,715 over the last 90 days. 28.25% of the stock is currently owned by company insiders.

Prospect Capital Price Performance

PSEC stock traded down $0.01 during mid-day trading on Wednesday, reaching $3.23. 2,133,649 shares of the company's stock were exchanged, compared to its average volume of 2,958,446. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. Prospect Capital Co. has a 12-month low of $3.14 and a 12-month high of $5.65. The stock's 50 day moving average is $3.57 and its 200 day moving average is $4.09. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -16.15 and a beta of 0.93.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced 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. Prospect Capital had a return on equity of 12.31% and a net margin of 1.18%. The firm had revenue of $170.72 million for the quarter, compared to analyst estimates of $174.29 million.

Prospect Capital Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th will be issued a dividend of $0.045 per share. This represents a yield of 16.46%. The ex-dividend date is Wednesday, May 28th. Prospect Capital's payout ratio is -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.