Inspire Investing LLC raised its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC – Free Report) by 47.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,278 shares of the financial services provider’s stock after buying an additional 39,414 shares during the period. Inspire Investing LLC’s holdings in Prospect Capital were worth $392,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. D.A. Davidson & CO. increased its holdings in Prospect Capital by 1.2% during the first quarter. D.A. Davidson & CO. now owns 346,881 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 4,050 shares during the last quarter. VSM Wealth Advisory LLC purchased a new stake in Prospect Capital during the first quarter valued at approximately $25,000. Generali Investments CEE investicni spolecnost a.s. increased its holdings in Prospect Capital by 5.7% during the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 116,251 shares of the financial services provider’s stock valued at $370,000 after buying an additional 6,289 shares during the last quarter. Inspire Advisors LLC increased its holdings in Prospect Capital by 46.8% during the first quarter. Inspire Advisors LLC now owns 23,417 shares of the financial services provider’s stock valued at $96,000 after buying an additional 7,460 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in Prospect Capital by 17.3% during the second quarter. Blair William & Co. IL now owns 53,473 shares of the financial services provider’s stock valued at $170,000 after buying an additional 7,873 shares during the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.
Prospect Capital Trading Up 1.8%
Shares of PSEC opened at $2.83 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 1.16. Prospect Capital Corporation has a 1 year low of $2.57 and a 1 year high of $5.41. The company has a 50 day simple moving average of $2.80 and a two-hundred day simple moving average of $3.21. The firm has a market cap of $1.32 billion, a P/E ratio of -2.11 and a beta of 0.85.
Prospect Capital Announces Dividend
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a yield of 19.1%. The ex-dividend date of this dividend is Wednesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is -40.30%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the stock. Wall Street Zen raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their target price on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Thursday, August 28th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell” and a consensus target price of $2.50.
View Our Latest Stock Report on Prospect Capital
Insider Buying and Selling
In other news, COO M Grier Eliasek bought 370,000 shares of the stock in a transaction dated Thursday, September 25th. The stock was purchased at an average cost of $2.71 per share, for a total transaction of $1,002,700.00. Following the transaction, the chief operating officer owned 2,501,130 shares of the company’s stock, valued at $6,778,062.30. The trade was a 17.36% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John F. Barry bought 925,000 shares of the stock in a transaction dated Thursday, September 25th. The shares were purchased at an average price of $2.72 per share, with a total value of $2,516,000.00. Following the completion of the transaction, the chief executive officer directly owned 86,067,158 shares in the company, valued at approximately $234,102,669.76. The trade was a 1.09% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 2,797,158 shares of company stock valued at $7,485,119. Insiders own 27.98% of the company’s stock.
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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