Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) shares reached a new 52-week low on Monday . The stock traded as low as $3.14 and last traded at $3.16, with a volume of 560143 shares trading hands. The stock had previously closed at $3.19.
Analyst Ratings Changes
A number of equities analysts recently commented on PSEC shares. Wells Fargo & Company dropped their price target on 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 report on Saturday, April 12th.
Get Our Latest Stock Report on Prospect Capital
Prospect Capital Stock Down 0.6%
The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business's 50-day simple moving average is $3.43 and its 200 day simple moving average is $3.95. The firm has a market cap of $1.40 billion, a PE ratio of -3.65 and a beta of 0.85.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. The company had revenue of $170.72 million for the quarter, compared to analyst estimates of $174.29 million. Prospect Capital had a positive return on equity of 12.43% and a negative net margin of 36.07%.
Prospect Capital Announces Dividend
The firm also recently declared a dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a yield of 16.46%. Prospect Capital's dividend payout ratio is currently -62.79%.
Insider Activity at Prospect Capital
In other news, CEO John F. Barry bought 319,000 shares of Prospect Capital stock in a transaction on Monday, June 23rd. The stock was acquired at an average price of $3.16 per share, with a total value of $1,008,040.00. Following the completion of the acquisition, the chief executive officer now directly owns 83,585,026 shares of the company's stock, valued at $264,128,682.16. The trade was a 0.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 28.25% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its position in shares of Prospect Capital by 158.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider's stock valued at $274,000 after buying an additional 38,923 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its stake in Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider's stock worth $69,000 after purchasing an additional 3,467 shares in the last quarter. Kovack Advisors Inc. grew its position 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 valued at $625,000 after purchasing an additional 2,732 shares in the last quarter. WMG Financial Advisors LLC lifted its position in Prospect Capital by 22.3% during the fourth quarter. WMG Financial Advisors LLC now owns 27,950 shares of the financial services provider's stock worth $120,000 after buying an additional 5,100 shares in the last quarter. Finally, Naviter Wealth LLC acquired a new position in Prospect Capital during the fourth quarter worth $2,216,000. 9.06% of the stock is owned by institutional investors and hedge funds.
About Prospect Capital
(
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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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