Prospect Capital Corporation (NASDAQ:PSEC) Shares Purchased by Spire Wealth Management

Spire Wealth Management raised its stake in Prospect Capital Corporation (NASDAQ:PSEC) by 22.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,389 shares of the financial services provider’s stock after acquiring an additional 20,245 shares during the period. Spire Wealth Management’s holdings in Prospect Capital were worth $461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Balyasny Asset Management L.P. grew its stake in Prospect Capital by 6,177.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider’s stock worth $10,684,000 after buying an additional 2,439,426 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Prospect Capital during the fourth quarter worth approximately $7,880,000. Envestnet Asset Management Inc. increased its holdings in shares of Prospect Capital by 4,160.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock valued at $4,080,000 after acquiring an additional 924,428 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in Prospect Capital by 49.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 707,827 shares of the financial services provider’s stock valued at $3,051,000 after purchasing an additional 233,948 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in Prospect Capital by 115.9% during the 4th quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 367,634 shares during the period. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PSEC shares. Wells Fargo & Company dropped their price objective on shares of Prospect Capital from $3.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, May 12th. Wall Street Zen upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Saturday, April 12th.

Prospect Capital Price Performance

Shares of NASDAQ PSEC opened at $3.18 on Friday. The stock has a fifty day moving average price of $3.42 and a 200 day moving average price of $3.93. Prospect Capital Corporation has a 1-year low of $3.10 and a 1-year high of $5.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market cap of $1.42 billion, a PE ratio of -3.70 and a beta of 0.85.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The business had revenue of $170.72 million for the quarter, compared to the consensus estimate of $174.29 million. Prospect Capital had a negative net margin of 36.07% and a positive return on equity of 12.43%.

Prospect Capital Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.045 per share. This represents a dividend yield of 16.46%. The ex-dividend date was Wednesday, May 28th. Prospect Capital’s dividend payout ratio (DPR) is -62.79%.

Insider Activity

In related news, CEO John F. Barry bought 319,000 shares of the stock in a transaction on Monday, June 23rd. The shares were bought at an average cost of $3.16 per share, for a total transaction of $1,008,040.00. Following the completion of the transaction, the chief executive officer now owns 83,585,026 shares of the company’s stock, valued at $264,128,682.16. This represents a 0.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 28.25% of the company’s stock.

Prospect Capital Company Profile

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.