D.A. Davidson & CO. Acquires 4,613 Shares of Prospect Capital Corporation $PSEC

D.A. Davidson & CO. grew its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 351,494 shares of the financial services provider’s stock after purchasing an additional 4,613 shares during the period. D.A. Davidson & CO. owned approximately 0.08% of Prospect Capital worth $1,118,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC bought a new stake in Prospect Capital during the 2nd quarter worth approximately $75,680,000. Oppenheimer & Co. Inc. bought a new stake in Prospect Capital during the 1st quarter worth approximately $70,000. Caxton Associates LLP bought a new stake in Prospect Capital during the 1st quarter worth approximately $1,517,000. Private Advisor Group LLC increased its holdings in Prospect Capital by 48.0% during the 1st quarter. Private Advisor Group LLC now owns 589,686 shares of the financial services provider’s stock worth $2,418,000 after acquiring an additional 191,354 shares during the period. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Prospect Capital during the 1st quarter worth approximately $451,000. Institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSEC. Wall Street Zen raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Thursday, August 28th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell” and an average price target of $2.50.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $2.79 on Tuesday. Prospect Capital Corporation has a 52-week low of $2.57 and a 52-week high of $5.33. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of -2.08 and a beta of 0.85. The company has a fifty day moving average of $2.78 and a 200-day moving average of $3.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.16 and a current ratio of 1.16.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%. The company had revenue of $166.95 million during the quarter, compared to analysts’ expectations of $167.08 million.

Prospect Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a c) dividend on an annualized basis and a dividend yield of 19.4%. Prospect Capital’s dividend payout ratio is -40.30%.

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry acquired 925,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $2.72 per share, with a total value of $2,516,000.00. Following the purchase, the chief executive officer owned 86,067,158 shares of the company’s stock, valued at approximately $234,102,669.76. This trade represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO M Grier Eliasek purchased 370,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $2.71 per share, with a total value of $1,002,700.00. Following the transaction, the chief operating officer directly owned 2,501,130 shares in the company, valued at $6,778,062.30. This trade represents a 17.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,797,158 shares of company stock valued at $7,485,119 in the last ninety days. 27.98% of the stock is owned by corporate insiders.

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.