Tudor Investment Corp ET AL Buys 282,119 Shares of Prospect Capital Corporation $PSEC

Tudor Investment Corp ET AL grew its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 12.1% during the third quarter, Holdings Channel reports. The institutional investor owned 2,604,286 shares of the financial services provider’s stock after buying an additional 282,119 shares during the period. Tudor Investment Corp ET AL’s holdings in Prospect Capital were worth $7,162,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Navalign LLC purchased a new stake in Prospect Capital in the 3rd quarter worth approximately $28,000. A4 Wealth Advisors LLC purchased a new position in Prospect Capital during the third quarter valued at approximately $34,000. Significant Wealth Partners LLC lifted its holdings in Prospect Capital by 59.1% during the third quarter. Significant Wealth Partners LLC now owns 17,947 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 6,664 shares in the last quarter. Equitable Holdings Inc. bought a new position in shares of Prospect Capital in the third quarter worth approximately $51,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Prospect Capital in the third quarter worth approximately $51,000. 9.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus target price of $2.50.

Prospect Capital Price Performance

Prospect Capital stock opened at $2.57 on Tuesday. Prospect Capital Corporation has a 52-week low of $2.45 and a 52-week high of $4.28. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $2.77 and its 200 day moving average is $2.71. The company has a market cap of $1.25 billion, a price-to-earnings ratio of -3.17 and a beta of 0.87.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The business had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $156.34 million. Prospect Capital had a negative net margin of 39.56% and a positive return on equity of 11.91%.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, May 19th. Investors of record on Tuesday, April 28th will be given a $0.045 dividend. The ex-dividend date is Tuesday, April 28th. This represents a c) annualized dividend and a yield of 21.0%. Prospect Capital’s dividend payout ratio (DPR) is currently -66.67%.

Insiders Place Their Bets

In related news, COO M Grier Eliasek acquired 942,800 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were acquired at an average cost of $2.92 per share, for a total transaction of $2,752,976.00. Following the completion of the transaction, the chief operating officer directly owned 3,443,930 shares in the company, valued at approximately $10,056,275.60. This trade represents a 37.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.98% of the stock is owned by insiders.

Prospect Capital Company 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.