Cubist Systematic Strategies LLC Grows Position in Prospect Capital Corporation $PSEC

Cubist Systematic Strategies LLC raised its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 91.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 308,764 shares of the financial services provider's stock after acquiring an additional 147,882 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.07% of Prospect Capital worth $1,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PSEC. VSM Wealth Advisory LLC bought a new position in shares of Prospect Capital in the 1st quarter worth approximately $25,000. KG&L Capital Management LLC purchased a new stake in Prospect Capital in the 1st quarter worth approximately $41,000. Ameriflex Group Inc. purchased a new stake in Prospect Capital in the 4th quarter worth approximately $62,000. Tower Research Capital LLC TRC grew its holdings in Prospect Capital by 732.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,560 shares of the financial services provider's stock valued at $63,000 after buying an additional 12,810 shares in the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new stake in Prospect Capital during the 1st quarter valued at approximately $70,000. Institutional investors own 9.06% of the company's stock.

Prospect Capital Stock Down 0.4%

Shares of PSEC traded down $0.01 during mid-day trading on Friday, hitting $2.79. 2,254,541 shares of the company traded hands, compared to its average volume of 3,441,495. Prospect Capital Corporation has a 1-year low of $2.73 and a 1-year high of $5.57. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.29 billion, a PE ratio of -2.08 and a beta of 0.85. The business has a 50 day moving average of $3.05 and a 200 day moving average of $3.45.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%. The firm had revenue of $166.95 million for the quarter, compared to the consensus estimate of $167.08 million.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be issued a $0.045 dividend. This represents a c) annualized dividend and a yield of 19.4%. The ex-dividend date is Wednesday, October 29th. Prospect Capital's dividend payout ratio is -40.30%.

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry purchased 623,300 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were bought at an average price of $3.19 per share, for a total transaction of $1,988,327.00. Following the acquisition, the chief executive officer owned 83,266,026 shares in the company, valued at $265,618,622.94. This represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 28.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSEC. Wall Street Zen lowered shares of Prospect Capital from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Wells Fargo & Company decreased their target price on Prospect Capital from $3.00 to $2.50 and set an "underweight" rating for the company in a research report on Thursday, August 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Prospect Capital presently has an average rating of "Sell" and an average target price of $2.50.

Prospect Capital Company 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.