Bank of Montreal Can bought a new position in shares of Prospect Capital Co. (NASDAQ:PSEC – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 57,788 shares of the financial services provider’s stock, valued at approximately $363,000.
A number of other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. grew its holdings in Prospect Capital by 548.2% during the 1st quarter. JPMorgan Chase & Co. now owns 94,483 shares of the financial services provider’s stock worth $782,000 after acquiring an additional 79,907 shares during the last quarter. Doyle Wealth Management bought a new position in shares of Prospect Capital in the 1st quarter valued at about $116,000. Merit Financial Group LLC bought a new position in shares of Prospect Capital in the 1st quarter valued at about $714,000. Northern Trust Corp boosted its stake in shares of Prospect Capital by 100.7% in the 1st quarter. Northern Trust Corp now owns 300,640 shares of the financial services provider’s stock valued at $2,489,000 after purchasing an additional 150,857 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in shares of Prospect Capital by 5.0% in the 1st quarter. Guggenheim Capital LLC now owns 38,212 shares of the financial services provider’s stock valued at $316,000 after purchasing an additional 1,825 shares during the last quarter. Institutional investors and hedge funds own 8.09% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Monday, November 13th.
Insider Buying and Selling
In related news, CFO Dask Kristin Lea Van acquired 5,000 shares of Prospect Capital stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $5.68 per share, with a total value of $28,400.00. Following the completion of the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $28,400. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other Prospect Capital news, CEO John F. Barry bought 16,520 shares of Prospect Capital stock in a transaction dated Monday, September 11th. The stock was bought at an average price of $5.99 per share, with a total value of $98,954.80. Following the completion of the transaction, the chief executive officer now owns 72,752,728 shares in the company, valued at approximately $435,788,840.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dask Kristin Lea Van bought 5,000 shares of Prospect Capital stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $5.68 per share, with a total value of $28,400.00. Following the transaction, the chief financial officer now owns 5,000 shares of the company’s stock, valued at approximately $28,400. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 24,520 shares of company stock worth $145,355. Insiders own 27.10% of the company’s stock.
Prospect Capital Stock Performance
Shares of PSEC stock opened at $5.73 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $2.35 billion, a P/E ratio of 52.09 and a beta of 1.00. The company’s 50 day moving average price is $5.80 and its two-hundred day moving average price is $6.10. Prospect Capital Co. has a 52 week low of $5.03 and a 52 week high of $7.83.
Prospect Capital (NASDAQ:PSEC – Get Free Report) last posted its quarterly earnings data on Tuesday, August 29th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $221.50 million for the quarter, compared to the consensus estimate of $220.43 million. Prospect Capital had a net margin of 10.27% and a return on equity of 13.30%. On average, analysts expect that Prospect Capital Co. will post 0.93 earnings per share for the current fiscal year.
Prospect Capital Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, January 29th will be issued a dividend of $0.06 per share. The ex-dividend date is Friday, January 26th. This represents a $0.72 dividend on an annualized basis and a yield of 12.57%. Prospect Capital’s payout ratio is 654.55%.
About Prospect Capital
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.
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