Prospect Capital Target of Unusually High Options Trading (PSEC)
Prospect Capital Co. (NASDAQ:PSEC) was the target of some unusual options trading on Monday. Stock traders acquired 11,548 call options on the stock. This represents an increase of approximately 1,471% compared to the average volume of 735 call options.
A number of institutional investors have recently added to or reduced their stakes in the stock. WFG Advisors LP boosted its position in Prospect Capital by 4.2% in the second quarter. WFG Advisors LP now owns 371,436 shares of the financial services provider’s stock valued at $3,016,000 after buying an additional 14,844 shares during the period. Advisory Services Network LLC boosted its position in Prospect Capital by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock valued at $144,000 after buying an additional 105 shares during the period. Verition Fund Management LLC boosted its position in Prospect Capital by 86.0% in the second quarter. Verition Fund Management LLC now owns 25,520 shares of the financial services provider’s stock valued at $207,000 after buying an additional 11,803 shares during the period. Americafirst Capital Management LLC acquired a new position in Prospect Capital during the second quarter valued at about $378,000. Finally, The Manufacturers Life Insurance Company boosted its position in Prospect Capital by 13.5% in the second quarter. The Manufacturers Life Insurance Company now owns 28,921 shares of the financial services provider’s stock valued at $235,000 after buying an additional 3,437 shares during the period. 15.33% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the company. FBR & Co cut Prospect Capital from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $9.50 to $8.50 in a report on Thursday, May 11th. Zacks Investment Research upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub raised Prospect Capital from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. National Securities reissued a “sell” rating and issued a $7.00 target price on shares of Prospect Capital in a research report on Monday, May 15th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $7.00 target price on shares of Prospect Capital in a research report on Thursday, June 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.87.
Shares of Prospect Capital (NASDAQ:PSEC) opened at 6.75 on Thursday. Prospect Capital has a 12 month low of $6.71 and a 12 month high of $9.58. The company has a 50-day moving average price of $7.95 and a 200-day moving average price of $8.57.
Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Monday, August 28th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by $0.02. The business had revenue of $166.70 million during the quarter, compared to the consensus estimate of $177.21 million. Prospect Capital had a net margin of 30.69% and a return on equity of 6.08%. The business’s revenue was down 13.6% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. Equities research analysts anticipate that Prospect Capital will post $0.84 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Tuesday, October 31st will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.72 annualized dividend and a yield of 10.67%. Prospect Capital’s dividend payout ratio (DPR) is presently 142.86%.
Prospect Capital 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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