PVG Asset Management Corp reduced its stake in Prospect Capital Corporation (NASDAQ:PSEC) by 59.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,261 shares of the financial services provider’s stock after selling 187,431 shares during the period. PVG Asset Management Corp’s holdings in Prospect Capital Corporation were worth $1,058,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Atria Investments LLC purchased a new position in Prospect Capital Corporation in the second quarter valued at approximately $104,000. Blair William & Co. IL increased its stake in Prospect Capital Corporation by 37.3% in the first quarter. Blair William & Co. IL now owns 13,725 shares of the financial services provider’s stock valued at $129,000 after purchasing an additional 3,725 shares during the last quarter. Nwam LLC increased its stake in Prospect Capital Corporation by 19.1% in the second quarter. Nwam LLC now owns 16,825 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 2,700 shares during the last quarter. Regal Investment Advisors LLC increased its stake in Prospect Capital Corporation by 19.3% in the second quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Global X Management Co. LLC increased its stake in Prospect Capital Corporation by 50.9% in the first quarter. Global X Management Co. LLC now owns 15,479 shares of the financial services provider’s stock valued at $140,000 after purchasing an additional 5,223 shares during the last quarter. Institutional investors own 15.20% of the company’s stock.
Several equities research analysts have recently weighed in on PSEC shares. TheStreet downgraded Prospect Capital Corporation from a “b-” rating to a “c+” rating in a report on Wednesday, September 27th. Zacks Investment Research downgraded Prospect Capital Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. BidaskClub raised Prospect Capital Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. National Securities decreased their price objective on Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating for the company in a report on Wednesday, August 30th. Finally, Raymond James Financial, Inc. raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.17.
In related news, CFO Brian H. Oswald acquired 50,000 shares of Prospect Capital Corporation stock in a transaction that occurred on Friday, September 1st. The stock was acquired at an average price of $6.73 per share, for a total transaction of $336,500.00. Following the transaction, the chief financial officer now directly owns 493,373 shares of the company’s stock, valued at approximately $3,320,400.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 7.10% of the company’s stock.
Shares of Prospect Capital Corporation (PSEC) traded down 1.33% during midday trading on Friday, hitting $6.69. The company had a trading volume of 2,216,914 shares. The stock’s 50-day moving average price is $6.82 and its 200-day moving average price is $8.06. Prospect Capital Corporation has a 12 month low of $6.54 and a 12 month high of $9.58.
Prospect Capital Corporation (NASDAQ:PSEC) last released 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 net margin of 36.08% and a return on equity of 8.98%. The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $177.21 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The company’s revenue for the quarter was down 13.6% compared to the same quarter last year. On average, analysts anticipate that Prospect Capital Corporation will post $0.78 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Tuesday, October 31st will be given a dividend of $0.06 per share. 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 10.76%. Prospect Capital Corporation’s dividend payout ratio is currently 102.86%.
Prospect Capital Corporation Company 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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