Two Sigma Investments LP boosted its stake in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 115.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 684,812 shares of the financial services provider's stock after purchasing an additional 367,634 shares during the period. Two Sigma Investments LP owned about 0.16% of Prospect Capital worth $2,952,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in PSEC. Balyasny Asset Management L.P. increased its holdings in Prospect Capital by 6,177.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider's stock valued at $10,684,000 after purchasing an additional 2,439,426 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new stake in Prospect Capital in the 4th quarter valued at approximately $7,880,000. Envestnet Asset Management Inc. increased its holdings in Prospect Capital by 4,160.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock valued at $4,080,000 after purchasing an additional 924,428 shares during the last quarter. Naviter Wealth LLC acquired a new stake in Prospect Capital in the 4th quarter valued at approximately $2,216,000. Finally, Trexquant Investment LP acquired a new stake in Prospect Capital in the 4th quarter valued at approximately $1,429,000. Institutional investors and hedge funds own 9.06% of the company's stock.
Prospect Capital Stock Down 0.3%
PSEC stock traded down $0.01 during midday trading on Wednesday, hitting $3.23. The company's stock had a trading volume of 2,133,649 shares, compared to its average volume of 2,958,446. 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 Co. has a 52-week low of $3.14 and a 52-week high of $5.65. The firm has a market capitalization of $1.44 billion, a P/E ratio of -16.15 and a beta of 0.93. The firm has a 50-day simple moving average of $3.57 and a 200-day simple moving average of $4.09.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Prospect Capital had a net margin of 1.18% and a return on equity of 12.31%. The company had revenue of $170.72 million during the quarter, compared to analysts' expectations of $174.29 million.
Prospect Capital Announces Dividend
The company also recently disclosed a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a dividend yield of 16.46%. Prospect Capital's dividend payout ratio (DPR) is currently -62.79%.
Insider Transactions at Prospect Capital
In related news, Director William Gremp purchased 19,100 shares of the business's stock in a transaction that occurred on Tuesday, March 18th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the purchase, the director now directly owns 75,153 shares of the company's stock, valued at $322,406.37. The trade was a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John F. Barry acquired 2,000,000 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were purchased 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 of the company's stock, valued at approximately $352,088,350.56. The trade was a 2.52% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,548,000 shares of company stock valued at $10,970,715. Insiders own 28.25% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on PSEC shares. Wall Street Zen upgraded shares of 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 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.
Check Out Our Latest Research Report on Prospect Capital
Prospect Capital Profile
(
Free Report)
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.
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