Rational Advisors LLC Acquires Shares of 72,840 Prospect Capital Co. (PSEC)
Rational Advisors LLC acquired a new stake in shares of Prospect Capital Co. (NASDAQ:PSEC) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 72,840 shares of the financial services provider’s stock, valued at approximately $475,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PSEC. NumerixS Investment Technologies Inc purchased a new position in Prospect Capital in the 4th quarter worth approximately $27,000. Flagship Harbor Advisors LLC increased its stake in Prospect Capital by 66.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 5,752 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 2,291 shares during the period. Reilly Financial Advisors LLC increased its stake in Prospect Capital by 342.9% in the 4th quarter. Reilly Financial Advisors LLC now owns 7,750 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 6,000 shares during the period. Nikulski Financial Inc. purchased a new position in Prospect Capital in the 1st quarter worth approximately $49,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Prospect Capital in the 1st quarter worth approximately $63,000. 12.89% of the stock is currently owned by institutional investors.
A number of brokerages have commented on PSEC. National Securities reaffirmed a “sell” rating and issued a $4.00 price target on shares of Prospect Capital in a research note on Monday, May 13th. BidaskClub raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. ValuEngine raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Zacks Investment Research cut Prospect Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. Prospect Capital currently has an average rating of “Sell” and a consensus price target of $6.00.
Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. The firm had revenue of $171.10 million for the quarter, compared to analyst estimates of $173.48 million. Prospect Capital had a return on equity of 9.58% and a net margin of 30.82%. The business’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $0.19 EPS. Research analysts forecast that Prospect Capital Co. will post 0.86 earnings per share for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a $0.06 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.65%. Prospect Capital’s dividend payout ratio is currently 91.14%.
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.
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