Prospect Capital Corporation (PSEC) Stake Raised by Van ECK Associates Corp
Van ECK Associates Corp grew its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,404,212 shares of the financial services provider’s stock after buying an additional 96,575 shares during the period. Van ECK Associates Corp owned 0.67% of Prospect Capital worth $16,156,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Regal Investment Advisors LLC raised its holdings in Prospect Capital by 19.3% during the second quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,720 shares in the last quarter. Nwam LLC raised its holdings in Prospect Capital by 19.1% during the second quarter. Nwam LLC now owns 16,825 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,700 shares in the last quarter. Summit Securities Group LLC bought a new stake in Prospect Capital during the second quarter worth approximately $142,000. Advisory Services Network LLC raised its holdings in Prospect Capital by 0.6% during the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Prospect Capital by 8.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 1,507 shares in the last quarter. 15.18% of the stock is currently owned by institutional investors.
In related news, insider John F. Barry purchased 995,883 shares of the company’s stock in a transaction on Monday, November 20th. The shares were bought at an average price of $6.98 per share, with a total value of $6,951,263.34. Following the completion of the acquisition, the insider now owns 25,219,413 shares of the company’s stock, valued at $176,031,502.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian H. Oswald purchased 50,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was bought at an average cost 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 of the company’s stock, valued at approximately $3,320,400.29. The disclosure for this purchase can be found here. Insiders acquired 1,211,883 shares of company stock worth $8,250,413 in the last ninety days. 7.10% of the stock is owned by corporate insiders.
Prospect Capital Corporation (PSEC) opened at $6.80 on Friday. The stock has a market capitalization of $2,450.68, a price-to-earnings ratio of 8.40 and a beta of 0.51. Prospect Capital Corporation has a twelve month low of $5.51 and a twelve month high of $9.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.63 and a quick ratio of 2.63.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The company had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. Prospect Capital’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 EPS. equities research analysts forecast that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a $0.06 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 10.59%. Prospect Capital’s dividend payout ratio is currently 144.00%.
Several equities research analysts recently commented on PSEC shares. UBS AG raised Prospect Capital from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. TheStreet cut Prospect Capital from a “b-” rating to a “c+” rating in a report on Wednesday, September 27th. Zacks Investment Research cut Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. BMO Capital Markets dropped their target price on Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, November 10th. Finally, Raymond James Financial, Inc. raised Prospect Capital from an “underperform” rating to a “market perform” rating in a 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 company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $6.17.
Prospect Capital 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.
Receive News & Ratings for Prospect Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.