Prospect Capital Corporation (NASDAQ:PSEC) CFO Brian H. Oswald acquired 10,547 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was purchased at an average price of $8.07 per share, for a total transaction of $85,114.29. Following the completion of the acquisition, the chief financial officer now owns 480,000 shares in the company, valued at $3,873,600. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Prospect Capital Corporation (NASDAQ PSEC) traded up 0.75% during midday trading on Friday, hitting $8.06. The company had a trading volume of 2,330,363 shares. The company’s 50 day moving average is $8.38 and its 200 day moving average is $8.72. Prospect Capital Corporation has a one year low of $7.07 and a one year high of $9.58. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 9.72 and a beta of 0.49.
Prospect Capital Corporation (NASDAQ:PSEC) last posted its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by $0.04. Prospect Capital Corporation had a return on equity of 9.56% and a net margin of 40.82%. The business had revenue of $171 million for the quarter, compared to analyst estimates of $185.36 million. During the same period in the prior year, the firm posted $0.25 EPS. Prospect Capital Corporation’s revenue for the quarter was down 9.8% on a year-over-year basis. Equities analysts forecast that Prospect Capital Corporation will post $0.88 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be given a dividend of $0.0833 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 12.41%. Prospect Capital Corporation’s dividend payout ratio is presently 120.48%.
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A number of research firms have recently commented on PSEC. BMO Capital Markets restated a “hold” rating and issued a $7.00 price objective on shares of Prospect Capital Corporation in a report on Thursday, June 1st. Zacks Investment Research upgraded Prospect Capital Corporation from a “sell” rating to a “hold” rating in a report on Thursday, February 23rd. National Securities reiterated a “sell” rating and set a $7.00 target price on shares of Prospect Capital Corporation in a report on Monday, May 15th. Finally, FBR & Co downgraded Prospect Capital Corporation from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $9.50 to $8.50 in a report on Thursday, May 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $8.04.
Several institutional investors have recently bought and sold shares of PSEC. Muzinich & Co. Inc. boosted its position in Prospect Capital Corporation by 58.7% in the first quarter. Muzinich & Co. Inc. now owns 12,063,718 shares of the financial services provider’s stock valued at $109,056,000 after buying an additional 4,460,250 shares in the last quarter. Two Sigma Investments LP boosted its position in Prospect Capital Corporation by 217.9% in the fourth quarter. Two Sigma Investments LP now owns 1,483,820 shares of the financial services provider’s stock valued at $12,390,000 after buying an additional 1,017,067 shares in the last quarter. California Public Employees Retirement System boosted its position in Prospect Capital Corporation by 1,613.1% in the first quarter. California Public Employees Retirement System now owns 746,900 shares of the financial services provider’s stock valued at $6,752,000 after buying an additional 703,300 shares in the last quarter. LSV Asset Management boosted its position in Prospect Capital Corporation by 32.5% in the first quarter. LSV Asset Management now owns 1,775,956 shares of the financial services provider’s stock valued at $16,054,000 after buying an additional 436,101 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in Prospect Capital Corporation by 28.1% in the first quarter. Van ECK Associates Corp now owns 1,897,023 shares of the financial services provider’s stock valued at $17,149,000 after buying an additional 415,831 shares in the last quarter. 16.56% of the stock is owned by institutional investors and hedge funds.
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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