California Public Employees Retirement System grew its stake in Prospect Capital Corporation (NASDAQ:PSEC) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 767,000 shares of the financial services provider’s stock after acquiring an additional 20,100 shares during the quarter. California Public Employees Retirement System’s holdings in Prospect Capital Corporation were worth $6,228,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of Prospect Capital Corporation by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock valued at $7,816,000 after acquiring an additional 112,354 shares during the last quarter. Green Square Capital LLC increased its stake in shares of Prospect Capital Corporation by 3.8% in the 1st quarter. Green Square Capital LLC now owns 42,777 shares of the financial services provider’s stock valued at $390,000 after acquiring an additional 1,577 shares during the last quarter. Caxton Associates LP bought a new stake in shares of Prospect Capital Corporation in the 1st quarter valued at about $539,000. Karp Capital Management Corp bought a new stake in shares of Prospect Capital Corporation in the 1st quarter valued at about $506,000. Finally, Gotham Asset Management LLC bought a new stake in shares of Prospect Capital Corporation in the 1st quarter valued at about $481,000. 15.20% of the stock is owned by institutional investors.
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Prospect Capital Corporation (PSEC) opened at 6.27 on Monday. Prospect Capital Corporation has a 12 month low of $6.20 and a 12 month high of $9.58. The company has a 50 day moving average price of $6.70 and a 200 day moving average price of $7.95.
Prospect Capital Corporation (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, August 28th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Prospect Capital Corporation had a return on equity of 8.98% and a net margin of 36.08%. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $177.21 million. During the same quarter last year, the business earned $0.26 earnings per share. Prospect Capital Corporation’s revenue was down 13.6% compared to the same quarter last year. On average, equities research analysts expect that Prospect Capital Corporation will post $0.78 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Tuesday, October 31st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.72 dividend on an annualized basis and a yield of 11.48%. Prospect Capital Corporation’s payout ratio is currently 102.86%.
In other Prospect Capital Corporation news, CFO Brian H. Oswald bought 50,000 shares of the stock in a transaction on Friday, September 1st. The stock was acquired at an average cost of $6.73 per share, for a total transaction of $336,500.00. Following the completion of the acquisition, the chief financial officer now owns 493,373 shares in the company, valued at approximately $3,320,400.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.10% of the company’s stock.
A number of analysts have recently commented on PSEC shares. UBS AG raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. TheStreet cut Prospect Capital Corporation from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. BidaskClub raised Prospect Capital Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Raymond James Financial, Inc. raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Finally, National Securities lowered their price target on Prospect Capital Corporation from $6.00 to $5.00 and set a “sell” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $6.83.
About Prospect Capital Corporation
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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