GatePass Capital LLC Buys New Shares in Prospect Capital Corporation $PSEC

GatePass Capital LLC purchased a new stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 204,800 shares of the financial services provider’s stock, valued at approximately $563,000.

Several other large investors have also recently added to or reduced their stakes in PSEC. Private Trust Co. NA increased its position in shares of Prospect Capital by 38.5% during the second quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 3,238 shares during the period. Raymond James Financial Inc. boosted its stake in Prospect Capital by 0.5% during the second quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock worth $2,685,000 after buying an additional 3,880 shares in the last quarter. Inspire Advisors LLC increased its holdings in Prospect Capital by 17.1% in the 2nd quarter. Inspire Advisors LLC now owns 27,432 shares of the financial services provider’s stock valued at $87,000 after buying an additional 4,015 shares during the period. D.A. Davidson & CO. raised its stake in shares of Prospect Capital by 1.3% in the 2nd quarter. D.A. Davidson & CO. now owns 351,494 shares of the financial services provider’s stock valued at $1,118,000 after buying an additional 4,613 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of Prospect Capital by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 262,719 shares of the financial services provider’s stock worth $835,000 after acquiring an additional 4,978 shares during the period. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Stock Down 3.1%

Shares of PSEC opened at $2.86 on Friday. The company has a market capitalization of $1.35 billion, a P/E ratio of -3.33 and a beta of 0.85. Prospect Capital Corporation has a one year low of $2.45 and a one year high of $4.47. The business’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $2.82. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.22 and a quick ratio of 1.22.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. Prospect Capital had a positive return on equity of 12.29% and a negative net margin of 42.50%.The firm had revenue of $119.44 million during the quarter, compared to the consensus estimate of $169.53 million.

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 18th. Shareholders of record on Wednesday, January 28th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 28th. This represents a c) dividend on an annualized basis and a yield of 18.9%. Prospect Capital’s dividend payout ratio is currently -62.79%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSEC. Wall Street Zen raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Prospect Capital in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, Prospect Capital presently has a consensus rating of “Sell” and a consensus price target of $2.50.

Prospect Capital Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.