Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,127,919 shares changed hands during trading, a decline of 40% from the previous session's volume of 1,880,715 shares.The stock last traded at $5.12 and had previously closed at $5.22.
Analysts Set New Price Targets
PSEC has been the topic of a number of recent research reports. StockNews.com raised Prospect Capital from a "sell" rating to a "hold" rating in a report on Thursday, June 27th. Wells Fargo & Company dropped their price objective on Prospect Capital from $5.50 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, May 16th.
Read Our Latest Report on PSEC
Prospect Capital Trading Down 6.1 %
The firm has a fifty day simple moving average of $5.53 and a two-hundred day simple moving average of $5.56. The stock has a market cap of $2.05 billion, a PE ratio of 14.50 and a beta of 1.01. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.66.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. The firm had revenue of $202.22 million for the quarter, compared to analysts' expectations of $214.70 million.
Prospect Capital Dividend Announcement
The firm also recently declared a monthly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be issued a $0.06 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.72 annualized dividend and a dividend yield of 14.69%. Prospect Capital's payout ratio is currently 211.76%.
Insider Buying and Selling at Prospect Capital
In other news, CFO Dask Kristin Lea Van acquired 3,330 shares of the firm's stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average cost of $22.50 per share, with a total value of $74,925.00. Following the acquisition, the chief financial officer now owns 4,539 shares in the company, valued at approximately $102,127.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 26.69% of the company's stock.
Hedge Funds Weigh In On Prospect Capital
Large investors have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of Prospect Capital during the 4th quarter valued at about $888,000. Kingsview Wealth Management LLC bought a new position in Prospect Capital during the 1st quarter worth approximately $91,000. Envestnet Portfolio Solutions Inc. bought a new position in Prospect Capital during the 1st quarter worth approximately $94,000. BI Asset Management Fondsmaeglerselskab A S grew its position in Prospect Capital by 59.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider's stock worth $2,177,000 after acquiring an additional 147,460 shares during the last quarter. Finally, Private Trust Co. NA grew its position in Prospect Capital by 54.3% during the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider's stock worth $46,000 after acquiring an additional 2,722 shares during the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.
About Prospect Capital
(
Get Free Report)
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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