Prospect Capital Corp. (PSEC) Shares Bought by Tower Research Capital LLC TRC
Tower Research Capital LLC TRC raised its stake in Prospect Capital Corp. (NASDAQ:PSEC) by 226.2% during the second quarter, Holdings Channel reports. The firm owned 18,065 shares of the company’s stock after buying an additional 12,527 shares during the period. Tower Research Capital LLC TRC’s holdings in Prospect Capital Corp. were worth $142,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Green Square Capital LLC purchased a new position in shares of Prospect Capital Corp. during the second quarter valued at approximately $196,000. HL Financial Services LLC raised its position in Prospect Capital Corp. by 97.7% in the second quarter. HL Financial Services LLC now owns 212,837 shares of the company’s stock valued at $1,664,000 after buying an additional 105,166 shares during the period. Bank of Montreal Can bought a new position in Prospect Capital Corp. during the second quarter valued at about $32,490,000. Paragon Capital Management Ltd raised its position in Prospect Capital Corp. by 25.9% in the second quarter. Paragon Capital Management Ltd now owns 13,410 shares of the company’s stock valued at $105,000 after buying an additional 2,759 shares during the period. Finally, James Investment Research Inc. bought a new position in Prospect Capital Corp. during the second quarter valued at about $439,000. Institutional investors and hedge funds own 11.00% of the company’s stock.
Prospect Capital Corp. (NASDAQ:PSEC) opened at 7.98 on Friday. The firm has a 50-day moving average price of $8.25 and a 200-day moving average price of $7.86. Prospect Capital Corp. has a one year low of $5.21 and a one year high of $8.68. The firm has a market capitalization of $2.85 billion, a P/E ratio of 27.52 and a beta of 0.64.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its quarterly earnings results on Monday, August 29th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The company had revenue of $193.04 million for the quarter. Prospect Capital Corp. had a return on equity of 10.47% and a net margin of 13.05%. Prospect Capital Corp.’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 EPS. Equities analysts anticipate that Prospect Capital Corp. will post $0.99 earnings per share for the current year.
The business also recently declared a monthly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be given a $0.0833 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 12.53%. The ex-dividend date is Wednesday, September 28th. Prospect Capital Corp.’s dividend payout ratio is currently 344.83%.
PSEC has been the topic of several analyst reports. Vetr upgraded Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $8.72 target price on the stock in a research note on Wednesday, September 21st. FBR & Co restated an “outperform” rating and set a $10.00 price target (up previously from $9.00) on shares of Prospect Capital Corp. in a research note on Wednesday, August 31st. Zacks Investment Research lowered Prospect Capital Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. National Securities lowered Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 price target on the stock. in a research note on Tuesday, July 19th. Finally, BMO Capital Markets restated a “market perform” rating and set a $7.00 price target on shares of Prospect Capital Corp. in a research note on Thursday, September 1st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $7.60.
In other Prospect Capital Corp. news, CFO Brian H. Oswald acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, September 13th. The shares were acquired at an average price of $7.85 per share, for a total transaction of $31,400.00. Following the acquisition, the chief financial officer now owns 480,000 shares in the company, valued at approximately $3,768,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 6.60% of the stock is owned by company insiders.
About Prospect Capital Corp.
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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