13,000 Shares in Prospect Capital Corp. (PSEC) Acquired by Acrospire Investment Management LLC
Acrospire Investment Management LLC acquired a new position in Prospect Capital Corp. (NASDAQ:PSEC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,000 shares of the company’s stock, valued at approximately $102,000.
Other large investors have also recently modified their holdings of the company. Bank of Montreal Can bought a new position in Prospect Capital Corp. during the second quarter worth $32,490,000. RPG Investment Advisory LLC bought a new position in Prospect Capital Corp. during the second quarter worth $4,307,000. LSV Asset Management increased its position in Prospect Capital Corp. by 15.8% in the second quarter. LSV Asset Management now owns 1,278,855 shares of the company’s stock worth $10,000,000 after buying an additional 174,599 shares in the last quarter. Mckinley Capital Management LLC Delaware increased its position in Prospect Capital Corp. by 124.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 299,346 shares of the company’s stock worth $2,176,000 after buying an additional 166,258 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Prospect Capital Corp. by 26.5% in the first quarter. Legal & General Group Plc now owns 701,227 shares of the company’s stock worth $5,087,000 after buying an additional 146,780 shares in the last quarter. 11.00% of the stock is owned by institutional investors and hedge funds.
Prospect Capital Corp. (NASDAQ:PSEC) remained flat at $8.12 during trading on Wednesday. 592,733 shares of the company’s stock traded hands. The firm has a market capitalization of $2.90 billion, a PE ratio of 28.00 and a beta of 0.62. The firm’s 50 day moving average is $8.32 and its 200 day moving average is $7.77. Prospect Capital Corp. has a one year low of $5.21 and a one year high of $8.68.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its earnings results on Monday, August 29th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. Prospect Capital Corp. had a net margin of 13.05% and a return on equity of 10.47%. The business had revenue of $193.04 million for the quarter. During the same period in the prior year, the company posted $0.25 EPS. The company’s revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Prospect Capital Corp. will post $0.99 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be paid a $0.0833 dividend. This represents a $1.00 annualized dividend and a dividend yield of 12.31%. The ex-dividend date is Wednesday, September 28th. Prospect Capital Corp.’s dividend payout ratio is currently 344.83%.
A number of research firms have recently weighed in on PSEC. Vetr raised shares of Prospect Capital Corp. from a “sell” rating to a “hold” rating and set a $8.11 target price for the company in a research report on Wednesday, August 3rd. BMO Capital Markets reissued a “market perform” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a research report on Thursday, September 1st. Barclays PLC reissued an “equal weight” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a research report on Wednesday, August 31st. FBR & Co reissued an “outperform” rating and set a $10.00 target price (up from $9.00) on shares of Prospect Capital Corp. in a research report on Wednesday, August 31st. Finally, Zacks Investment Research raised shares of Prospect Capital Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $7.60.
In other news, CFO Brian H. Oswald bought 4,000 shares of Prospect Capital Corp. stock in a transaction dated Tuesday, September 13th. The shares were acquired at an average price of $7.85 per share, with a total value of $31,400.00. Following the completion of the purchase, the chief financial officer now owns 480,000 shares in the company, valued at approximately $3,768,000. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.60% of the stock is currently owned by insiders.
About Prospect Capital Corp.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
Want to see what other hedge funds are holding PSEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prospect Capital Corp. (NASDAQ:PSEC).
Receive News & Ratings for Prospect Capital Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital Corp. and related companies with Analyst Ratings Network's FREE daily email newsletter.