Prospect Capital Corporation $PSEC Shares Bought by Caxton Associates LLP

Caxton Associates LLP boosted its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 86.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 690,059 shares of the financial services provider’s stock after purchasing an additional 319,984 shares during the period. Caxton Associates LLP owned approximately 0.15% of Prospect Capital worth $2,194,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PSEC. American National Bank & Trust purchased a new position in Prospect Capital during the second quarter valued at approximately $32,000. Significant Wealth Partners LLC purchased a new stake in Prospect Capital in the 2nd quarter worth approximately $36,000. Private Trust Co. NA grew its stake in shares of Prospect Capital by 38.5% during the 2nd quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 3,238 shares during the period. Foundations Investment Advisors LLC purchased a new position in shares of Prospect Capital during the 2nd quarter valued at approximately $38,000. Finally, Capital Advisors Ltd. LLC acquired a new position in shares of Prospect Capital in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Stock Down 0.8%

Shares of PSEC opened at $2.62 on Monday. The stock has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.92. Prospect Capital Corporation has a one year low of $2.52 and a one year high of $4.50. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.05 and a beta of 0.85.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Thursday, November 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.06. The business had revenue of $119.44 million during the quarter, compared to analyst estimates of $169.53 million. Prospect Capital had a negative net margin of 42.50% and a positive return on equity of 12.29%.

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, January 28th will be issued a dividend of $0.045 per share. This represents a c) annualized dividend and a dividend yield of 20.6%. The ex-dividend date is Wednesday, January 28th. Prospect Capital’s payout ratio is currently -62.79%.

Analyst Upgrades and Downgrades

PSEC has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Thursday, August 28th. Wall Street Zen upgraded Prospect Capital from a “hold” rating to a “buy” rating in a research note on Saturday, December 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a report on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Prospect Capital presently has a consensus rating of “Sell” and an average price target of $2.50.

Insider Buying and Selling

In related news, CEO John F. Barry bought 925,000 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $2,516,000.00. Following the acquisition, the chief executive officer directly owned 86,067,158 shares in the company, valued at $234,102,669.76. This represents a 1.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO M Grier Eliasek bought 370,000 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $2.71 per share, with a total value of $1,002,700.00. Following the completion of the purchase, the chief operating officer directly owned 2,501,130 shares in the company, valued at approximately $6,778,062.30. The trade was a 17.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 2,797,158 shares of company stock valued at $7,485,119 over the last 90 days. Company insiders own 27.98% of the company’s stock.

Prospect Capital 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.