Prospect Capital Corp. (PSEC) Position Raised by Blair William & Co. IL
Blair William & Co. IL raised its position in Prospect Capital Corp. (NASDAQ:PSEC) by 28.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 13,450 shares of the company’s stock after buying an additional 3,000 shares during the period. Blair William & Co. IL’s holdings in Prospect Capital Corp. were worth $105,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of PSEC. James Investment Research Inc. acquired a new stake in shares of Prospect Capital Corp. during the second quarter worth $439,000. Eqis Capital Management Inc. boosted its stake in shares of Prospect Capital Corp. by 8.6% in the second quarter. Eqis Capital Management Inc. now owns 85,575 shares of the company’s stock worth $669,000 after buying an additional 6,744 shares during the last quarter. DNB Asset Management AS boosted its stake in shares of Prospect Capital Corp. by 5.8% in the second quarter. DNB Asset Management AS now owns 131,500 shares of the company’s stock worth $1,034,000 after buying an additional 7,200 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Prospect Capital Corp. by 0.5% in the first quarter. First Republic Investment Management Inc. now owns 1,584,397 shares of the company’s stock worth $11,520,000 after buying an additional 8,297 shares during the last quarter. Finally, Seven Eight Capital LLC acquired a new stake in shares of Prospect Capital Corp. during the first quarter worth $519,000. Hedge funds and other institutional investors own 11.00% of the company’s stock.
Prospect Capital Corp. (NASDAQ:PSEC) traded up 0.671% during midday trading on Thursday, reaching $8.255. 1,443,459 shares of the company’s stock were exchanged. The stock has a market cap of $2.95 billion, a P/E ratio of 28.466 and a beta of 0.62. Prospect Capital Corp. has a 1-year low of $5.21 and a 1-year high of $8.68. The firm’s 50-day moving average is $8.32 and its 200 day moving average is $7.77.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its quarterly earnings results on Monday, August 29th. The company reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.01. The business earned $193.04 million during the quarter. Prospect Capital Corp. had a net margin of 13.05% and a return on equity of 10.47%. The company’s quarterly revenue was down 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. Equities analysts anticipate that Prospect Capital Corp. will post $0.99 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a dividend of $0.0833 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.19%. The ex-dividend date of this dividend is Wednesday, September 28th. Prospect Capital Corp.’s dividend payout ratio (DPR) is 344.83%.
A number of brokerages recently weighed in on PSEC. National Securities restated a “sell” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Tuesday, August 30th. Vetr cut shares of Prospect Capital Corp. from a “hold” rating to a “sell” rating and set a $8.29 target price for the company. in a report on Wednesday, August 31st. FBR & Co restated an “outperform” rating and set a $10.00 target price (up from $9.00) on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Barclays PLC restated an “equal weight” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Finally, BMO Capital Markets restated a “market perform” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $7.60.
In other Prospect Capital Corp. news, CFO Brian H. Oswald purchased 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was acquired at an average cost of $7.85 per share, with a total value of $31,400.00. Following the completion of the purchase, the chief financial officer now directly owns 480,000 shares in the company, valued at approximately $3,768,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.60% of the company’s stock.
Prospect Capital Corp. Company Profile
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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