Van ECK Associates Corp raised its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,404,212 shares of the financial services provider’s stock after purchasing an additional 96,575 shares during the quarter. Van ECK Associates Corp owned about 0.67% of Prospect Capital worth $16,156,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PSEC. Advisors Asset Management Inc. boosted its holdings in shares of Prospect Capital by 9.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,129,874 shares of the financial services provider’s stock valued at $9,175,000 after acquiring an additional 101,841 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Prospect Capital 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 purchasing an additional 112,354 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Prospect Capital during the 2nd quarter worth about $7,697,000. California Public Employees Retirement System boosted its position in Prospect Capital by 2.7% during the 2nd quarter. California Public Employees Retirement System now owns 767,000 shares of the financial services provider’s stock worth $6,228,000 after acquiring an additional 20,100 shares during the period. Finally, Camelot Portfolios LLC boosted its position in Prospect Capital by 2.0% during the 2nd quarter. Camelot Portfolios LLC now owns 665,323 shares of the financial services provider’s stock worth $5,402,000 after acquiring an additional 12,801 shares during the period. Institutional investors and hedge funds own 15.72% of the company’s stock.
Shares of Prospect Capital Corporation (NASDAQ:PSEC) opened at $6.73 on Tuesday. The company has a market capitalization of $2,447.08, a PE ratio of 8.38 and a beta of 0.56. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital Corporation has a fifty-two week low of $5.51 and a fifty-two week high of $9.58.
Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The company had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. During the same quarter in the prior year, the company posted $0.22 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. equities analysts expect that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 annualized dividend and a yield of 10.70%. Prospect Capital’s dividend payout ratio (DPR) is presently 144.00%.
Several brokerages recently commented on PSEC. UBS raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. TheStreet lowered Prospect Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Zacks Investment Research lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. BMO Capital Markets reduced their price objective on Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, November 10th. Finally, Raymond James Financial raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $6.17.
In other Prospect Capital news, insider M Grier Eliasek acquired 65,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $367,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian H. Oswald acquired 35,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was acquired at an average price of $5.75 per share, for a total transaction of $201,250.00. The disclosure for this purchase can be found here. Insiders have purchased 1,805,280 shares of company stock valued at $12,292,458 over the last three months. Insiders own 7.10% of the company’s stock.
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Prospect Capital Profile
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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