Garner Asset Management Corp purchased a new position in shares of Prospect Capital Corporation (NASDAQ:PSEC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 105,674 shares of the financial services provider’s stock, valued at approximately $858,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Legal & General Group Plc lifted its position in Prospect Capital Corporation by 13.2% during the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock worth $7,816,000 after buying an additional 112,354 shares in the last quarter. Green Square Capital LLC lifted its position in Prospect Capital Corporation by 3.8% during the 1st quarter. Green Square Capital LLC now owns 42,777 shares of the financial services provider’s stock worth $390,000 after buying an additional 1,577 shares in the last quarter. Caxton Associates LP acquired a new position in Prospect Capital Corporation during the 1st quarter worth about $539,000. Karp Capital Management Corp acquired a new position in Prospect Capital Corporation during the 1st quarter worth about $506,000. Finally, Gotham Asset Management LLC acquired a new position in Prospect Capital Corporation during the 1st quarter worth about $481,000. Institutional investors and hedge funds own 15.20% of the company’s stock.

Prospect Capital Corporation (NASDAQ PSEC) traded up 0.75% on Friday, reaching $6.72. 3,268,802 shares of the company’s stock were exchanged. Prospect Capital Corporation has a 52 week low of $6.54 and a 52 week high of $9.58. The stock’s 50 day moving average is $7.29 and its 200 day moving average is $8.27.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings results on Monday, August 28th. The financial services provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). Prospect Capital Corporation had a net margin of 36.08% and a return on equity of 8.98%. The firm had revenue of $166.70 million for the quarter, compared to analyst estimates of $177.21 million. During the same period in the previous year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. Analysts forecast that Prospect Capital Corporation will post $0.78 earnings per share for the current year.

The company also recently declared a monthly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.71%. The ex-dividend date is Monday, October 30th. Prospect Capital Corporation’s payout ratio is 102.86%.

PSEC has been the topic of several research reports. BidaskClub upgraded shares of Prospect Capital Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded shares of Prospect Capital Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. UBS AG upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Raymond James Financial, Inc. upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, National Securities reduced their price target on shares of Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating on the stock in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.88.

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In other news, CFO Brian H. Oswald purchased 50,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were purchased at an average cost of $6.73 per share, with a total value of $336,500.00. Following the completion of the purchase, the chief financial officer now owns 493,373 shares of the company’s stock, valued at approximately $3,320,400.29. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 7.10% of the company’s stock.

About Prospect Capital Corporation

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Institutional Ownership by Quarter for Prospect Capital Corporation (NASDAQ:PSEC)

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