Axxcess Wealth Management LLC Acquires 8,308 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Axxcess Wealth Management LLC increased its holdings in shares of Prospect Capital Co. (NASDAQ:PSECGet Rating) by 16.7% in the second quarter, HoldingsChannel reports. The firm owned 58,089 shares of the financial services provider’s stock after buying an additional 8,308 shares during the period. Axxcess Wealth Management LLC’s holdings in Prospect Capital were worth $406,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSEC. IFG Advisory LLC bought a new position in Prospect Capital during the first quarter worth about $99,000. Stephens Inc. AR grew its holdings in Prospect Capital by 17.3% during the first quarter. Stephens Inc. AR now owns 16,916 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 2,500 shares during the period. Prospera Financial Services Inc grew its holdings in Prospect Capital by 3.2% during the first quarter. Prospera Financial Services Inc now owns 79,500 shares of the financial services provider’s stock worth $658,000 after purchasing an additional 2,500 shares during the period. Next Level Private LLC acquired a new stake in Prospect Capital during the first quarter worth approximately $94,000. Finally, Philadelphia Trust Co. lifted its position in Prospect Capital by 2.2% during the first quarter. Philadelphia Trust Co. now owns 187,600 shares of the financial services provider’s stock worth $1,553,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors own 7.50% of the company’s stock.

Prospect Capital Trading Up 0.6 %

Shares of PSEC stock opened at $7.79 on Thursday. The firm has a 50 day moving average price of $7.06 and a two-hundred day moving average price of $7.35. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $3.10 billion, a PE ratio of 12.17 and a beta of 0.98. Prospect Capital Co. has a 12-month low of $6.09 and a 12-month high of $8.95.

Prospect Capital (NASDAQ:PSECGet Rating) last released its quarterly earnings results on Monday, August 29th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. Prospect Capital had a net margin of 36.40% and a return on equity of 9.50%. The company had revenue of $184.62 million during the quarter, compared to the consensus estimate of $179.74 million. During the same period in the previous year, the business earned $0.17 earnings per share. As a group, analysts predict that Prospect Capital Co. will post 0.96 earnings per share for the current year.

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 16th. Stockholders of record on Friday, January 27th will be given a $0.06 dividend. The ex-dividend date is Thursday, January 26th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 9.24%. Prospect Capital’s payout ratio is 112.50%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSEC. StockNews.com began coverage on shares of Prospect Capital in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Wells Fargo & Company raised their price objective on shares of Prospect Capital from $5.75 to $6.00 and gave the stock an “underweight” rating in a research report on Friday, November 11th.

About Prospect Capital

(Get Rating)

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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Institutional Ownership by Quarter for Prospect Capital (NASDAQ:PSEC)

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