Prospect Capital Corporation Target of Unusually High Options Trading (PSEC)
Prospect Capital Corporation (NASDAQ:PSEC) was the target of unusually large options trading activity on Wednesday. Stock investors acquired 17,219 call options on the stock. This represents an increase of approximately 682% compared to the typical daily volume of 2,201 call options.
Shares of Prospect Capital Corporation (PSEC) opened at $6.80 on Friday. The company has a market cap of $2,468.70, a price-to-earnings ratio of 8.46 and a beta of 0.51. Prospect Capital Corporation has a 52-week low of $5.51 and a 52-week high of $9.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63.
Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The firm had revenue of $158.58 million for the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital Corporation had a net margin of 27.00% and a return on equity of 8.63%. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 earnings per share. analysts anticipate that Prospect Capital Corporation will post 0.72 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 10.59%. Prospect Capital Corporation’s payout ratio is 144.00%.
In other Prospect Capital Corporation news, CFO Brian H. Oswald purchased 50,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were acquired at an average price of $6.73 per share, for a total transaction of $336,500.00. Following the purchase, the chief financial officer now directly owns 493,373 shares of the company’s stock, valued at approximately $3,320,400.29. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian H. Oswald purchased 35,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $5.75 per share, for a total transaction of $201,250.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,211,883 shares of company stock worth $8,250,413 in the last quarter. Corporate insiders own 7.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Americafirst Capital Management LLC bought a new stake in shares of Prospect Capital Corporation during the 2nd quarter valued at $378,000. Legal & General Group Plc increased its holdings in Prospect Capital Corporation by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock valued at $7,816,000 after acquiring an additional 112,354 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Prospect Capital Corporation in the 2nd quarter valued at $7,697,000. Wedbush Securities Inc. increased its holdings in Prospect Capital Corporation by 5.0% in the 2nd quarter. Wedbush Securities Inc. now owns 90,228 shares of the financial services provider’s stock valued at $733,000 after acquiring an additional 4,259 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in Prospect Capital Corporation by 2.7% in the 2nd quarter. California Public Employees Retirement System now owns 767,000 shares of the financial services provider’s stock valued at $6,228,000 after acquiring an additional 20,100 shares during the last quarter. Hedge funds and other institutional investors own 15.18% of the company’s stock.
Several research analysts have recently weighed in on PSEC shares. National Securities dropped their price target on shares of Prospect Capital Corporation from $6.00 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, October 12th. Raymond James Financial, Inc. upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. UBS AG upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Zacks Investment Research downgraded shares of Prospect Capital Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Finally, BidaskClub downgraded shares of Prospect Capital Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Prospect Capital Corporation has a consensus rating of “Hold” and a consensus price target of $6.17.
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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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