Prospect Capital Corporation (PSEC) To Go Ex-Dividend on August 27th

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Tuesday, May 5th. Shareholders of record on Thursday, August 27th will be given a dividend of 0.035 per share by the financial services provider on Thursday, September 17th. This represents a c) dividend on an annualized basis and a yield of 18.1%. The ex-dividend date of this dividend is Thursday, August 27th.

Prospect Capital has decreased its dividend payment by an average of 0.0%annually over the last three years. Prospect Capital has a payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Prospect Capital Trading Down 0.4%

NASDAQ PSEC opened at $2.32 on Tuesday. Prospect Capital has a 12 month low of $2.11 and a 12 month high of $3.13. The firm has a market capitalization of $1.22 billion, a P/E ratio of 46.40 and a beta of 0.79. The business has a fifty day simple moving average of $2.24 and a 200 day simple moving average of $2.47. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.64.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Thursday, August 20th. The financial services provider reported $0.15 EPS for the quarter, topping the consensus estimate of $0.11 by $0.04. The company had revenue of $155.76 million during the quarter, compared to the consensus estimate of $149.80 million. Prospect Capital had a net margin of 19.33% and a return on equity of 12.15%.

Insider Buying and Selling at Prospect Capital

In related news, CEO John F. Barry acquired 1,067,648 shares of the stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $2,423,560.96. Following the purchase, the chief executive officer directly owned 89,213,725 shares in the company, valued at $202,515,155.75. This represents a 1.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSEC. Raymond James Financial Inc. increased its holdings in shares of Prospect Capital by 0.5% during the 2nd quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock valued at $2,685,000 after acquiring an additional 3,880 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Prospect Capital by 55.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 6,056 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Prospect Capital by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 1,711,638 shares of the financial services provider’s stock worth $4,467,000 after purchasing an additional 6,262 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Prospect Capital by 1.3% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 520,592 shares of the financial services provider’s stock valued at $1,655,000 after purchasing an additional 6,516 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Prospect Capital by 1.8% during the third quarter. BNP Paribas Financial Markets now owns 504,342 shares of the financial services provider’s stock worth $1,387,000 after buying an additional 9,008 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

About Prospect Capital

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.