Suntrust Banks Inc. boosted its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 98.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,800 shares of the financial services provider’s stock after acquiring an additional 64,000 shares during the period. Suntrust Banks Inc.’s holdings in Prospect Capital Corporation were worth $1,044,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSEC. California Public Employees Retirement System lifted its holdings in Prospect Capital Corporation by 1,613.1% in the first quarter. California Public Employees Retirement System now owns 746,900 shares of the financial services provider’s stock valued at $6,752,000 after acquiring an additional 703,300 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Prospect Capital Corporation by 21.6% in the second quarter. Van ECK Associates Corp now owns 2,307,637 shares of the financial services provider’s stock valued at $18,738,000 after acquiring an additional 410,614 shares during the last quarter. PVG Asset Management Corp acquired a new position in Prospect Capital Corporation in the first quarter valued at approximately $2,872,000. Bank of Montreal Can lifted its holdings in Prospect Capital Corporation by 4.6% in the second quarter. Bank of Montreal Can now owns 5,892,500 shares of the financial services provider’s stock valued at $47,847,000 after acquiring an additional 257,000 shares during the last quarter. Finally, Menta Capital LLC lifted its holdings in Prospect Capital Corporation by 340.9% in the first quarter. Menta Capital LLC now owns 196,245 shares of the financial services provider’s stock valued at $1,774,000 after acquiring an additional 151,732 shares during the last quarter. Hedge funds and other institutional investors own 15.20% of the company’s stock.

Shares of Prospect Capital Corporation (NASDAQ PSEC) opened at 6.79 on Thursday. Prospect Capital Corporation has a 12 month low of $6.54 and a 12 month high of $9.58. The firm has a 50-day moving average price of $6.87 and a 200-day moving average price of $8.08.

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

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Tuesday, October 31st will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.60%. Prospect Capital Corporation’s dividend payout ratio (DPR) is presently 102.86%.

A number of analysts have issued reports on PSEC shares. UBS AG raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. TheStreet lowered Prospect Capital Corporation from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. BidaskClub raised Prospect Capital Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Raymond James Financial, Inc. raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, National Securities cut their target price on 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 given a hold rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.17.

In related news, CFO Brian H. Oswald purchased 50,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were bought at an average price of $6.73 per share, for a total transaction of $336,500.00. Following the acquisition, the chief financial officer now directly owns 493,373 shares in the company, valued at $3,320,400.29. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.10% of the stock is owned by company insiders.

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Prospect Capital Corporation Company Profile

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.

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

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