Forte Capital LLC ADV Buys Shares of 94,158 Prospect Capital Co. (NASDAQ:PSEC)

Forte Capital LLC ADV acquired a new stake in Prospect Capital Co. (NASDAQ:PSEC) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 94,158 shares of the financial services provider’s stock, valued at approximately $564,000.

Other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Prospect Capital by 26.1% in the fourth quarter. Van ECK Associates Corp now owns 6,161,151 shares of the financial services provider’s stock valued at $36,905,000 after acquiring an additional 1,276,762 shares during the last quarter. LSV Asset Management increased its holdings in shares of Prospect Capital by 17.2% in the fourth quarter. LSV Asset Management now owns 2,035,654 shares of the financial services provider’s stock valued at $12,194,000 after purchasing an additional 298,400 shares during the last quarter. XML Financial LLC boosted its holdings in shares of Prospect Capital by 4.5% during the 3rd quarter. XML Financial LLC now owns 1,384,395 shares of the financial services provider’s stock worth $8,376,000 after buying an additional 59,551 shares during the period. Advisors Asset Management Inc. lifted its position in Prospect Capital by 7.0% during the third quarter. Advisors Asset Management Inc. now owns 614,524 shares of the financial services provider’s stock worth $3,718,000 after acquiring an additional 40,375 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC boosted its stake in Prospect Capital by 1.3% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 567,771 shares of the financial services provider’s stock valued at $3,435,000 after purchasing an additional 7,431 shares during the period. Institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PSEC has been the topic of several research reports. Wells Fargo & Company upped their price target on shares of Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, April 26th.

Prospect Capital Price Performance

NASDAQ PSEC traded up $0.01 during midday trading on Friday, hitting $5.23. The company had a trading volume of 1,197,002 shares, compared to its average volume of 1,598,507. The firm has a 50-day moving average price of $5.45 and a 200-day moving average price of $5.68. The company has a market capitalization of $2.17 billion, a PE ratio of -26.15 and a beta of 1.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.67. Prospect Capital Co. has a twelve month low of $5.03 and a twelve month high of $6.69.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.02. The business had revenue of $210.94 million during the quarter, compared to analysts’ expectations of $226.14 million. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. As a group, analysts anticipate that Prospect Capital Co. will post 0.82 earnings per share for the current fiscal year.

Prospect Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 21st. Investors of record on Friday, April 26th will be given a dividend of $0.06 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.72 annualized dividend and a dividend yield of 13.77%. Prospect Capital’s dividend payout ratio is -359.98%.

Insider Activity at Prospect Capital

In other Prospect Capital news, CFO Dask Kristin Lea Van bought 5,000 shares of the business’s stock in a transaction on Monday, March 11th. The stock was purchased at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $54,400. The acquisition was disclosed in a filing with the SEC, which is available at this link. 26.69% of the stock is currently owned by insiders.

Prospect Capital Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.