Cubist Systematic Strategies LLC grew its stake in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 91.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,764 shares of the financial services provider's stock after purchasing an additional 147,882 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.07% of Prospect Capital worth $1,266,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. boosted its position in Prospect Capital by 1.2% during the first quarter. D.A. Davidson & CO. now owns 346,881 shares of the financial services provider's stock worth $1,422,000 after acquiring an additional 4,050 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in Prospect Capital by 21.8% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 25,229 shares of the financial services provider's stock worth $109,000 after acquiring an additional 4,524 shares during the last quarter. Tcfg Wealth Management LLC boosted its position in Prospect Capital by 1.9% during the first quarter. Tcfg Wealth Management LLC now owns 274,657 shares of the financial services provider's stock worth $1,126,000 after acquiring an additional 5,077 shares during the last quarter. VSM Wealth Advisory LLC acquired a new position in Prospect Capital during the first quarter worth about $25,000. Finally, Northern Trust Corp boosted its position in Prospect Capital by 1.1% during the fourth quarter. Northern Trust Corp now owns 598,848 shares of the financial services provider's stock worth $2,581,000 after acquiring an additional 6,641 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on PSEC shares. Wall Street Zen downgraded shares of Prospect Capital from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Wells Fargo & Company reduced their target price on shares of Prospect Capital from $3.00 to $2.50 and set an "underweight" rating on the stock in a research note on Thursday, August 28th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Sell" and an average target price of $2.50.
Check Out Our Latest Stock Report on Prospect Capital
Insider Activity
In related news, CEO John F. Barry purchased 319,000 shares of Prospect Capital stock in a transaction dated Monday, June 23rd. The shares were acquired at an average cost of $3.16 per share, with a total value of $1,008,040.00. Following the purchase, the chief executive officer owned 83,585,026 shares of the company's stock, valued at approximately $264,128,682.16. The trade was a 0.38% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 28.25% of the company's stock.
Prospect Capital Trading Up 0.2%
PSEC stock traded up $0.01 during trading on Friday, reaching $2.81. 1,741,621 shares of the stock were exchanged, compared to its average volume of 3,119,260. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $3.06 and a 200-day moving average price of $3.46. Prospect Capital Corporation has a 1 year low of $2.73 and a 1 year high of $5.57. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -2.09 and a beta of 0.85.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $166.95 million for the quarter, compared to the consensus estimate of $167.08 million. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%.
Prospect Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a $0.045 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 19.3%. The ex-dividend date of this dividend is Wednesday, October 29th. Prospect Capital's payout ratio is -40.30%.
About Prospect Capital
(
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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