Prospect Capital Co. (NASDAQ:PSEC - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $3.21 and last traded at $3.22, with a volume of 2977672 shares trading hands. The stock had previously closed at $3.29.
Analysts Set New Price Targets
Several equities analysts have commented on the company. Wall Street Zen upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company dropped their target price on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a research report on Monday, May 12th.
View Our Latest Report on PSEC
Prospect Capital Trading Up 1.9%
The company has a market cap of $1.45 billion, a price-to-earnings ratio of -16.25 and a beta of 0.93. The firm has a 50 day moving average price of $3.54 and a two-hundred day moving average price of $4.08. 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 (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 for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $170.72 million during the quarter, compared to analysts' expectations of $174.29 million. Prospect Capital had a return on equity of 12.31% and a net margin of 1.18%.
Prospect Capital Dividend Announcement
The business also recently declared a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, May 28th. This represents a dividend yield of 16.46%. Prospect Capital's payout ratio is -62.79%.
Insider Activity
In other Prospect Capital news, CEO John F. Barry bought 240,000 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $4.20 per share, with a total value of $1,008,000.00. Following the completion of the purchase, the chief executive officer now directly owns 81,981,933 shares of the company's stock, valued at approximately $344,324,118.60. This trade represents a 0.29% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William Gremp bought 19,100 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were acquired at an average cost of $4.29 per share, with a total value 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. This trade represents a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 2,548,000 shares of company stock valued at $10,970,715. Company insiders own 28.25% of the company's stock.
Institutional Investors Weigh In On Prospect Capital
A number of hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. grew its stake in Prospect Capital by 6,177.6% in the fourth 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 acquiring an additional 2,439,426 shares during the period. Thomas J. Herzfeld Advisors Inc. grew its stake in Prospect Capital by 26.6% in the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 2,315,582 shares of the financial services provider's stock valued at $9,494,000 after acquiring an additional 487,171 shares during the period. Envestnet Asset Management Inc. grew its stake in Prospect Capital by 24.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,181,787 shares of the financial services provider's stock valued at $4,845,000 after acquiring an additional 235,139 shares during the period. Trexquant Investment LP grew its stake in Prospect Capital by 176.1% in the first quarter. Trexquant Investment LP now owns 915,452 shares of the financial services provider's stock valued at $3,753,000 after acquiring an additional 583,844 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Prospect Capital by 49.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 707,827 shares of the financial services provider's stock valued at $3,051,000 after acquiring an additional 233,948 shares during the period. Institutional investors and hedge funds own 9.06% of the company's stock.
About Prospect Capital
(
Get 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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