Global Assets Advisory LLC Acquires Shares of 44,689 Prospect Capital Co. (NASDAQ:PSEC)

Global Assets Advisory LLC acquired a new stake in Prospect Capital Co. (NASDAQ:PSEC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 44,689 shares of the financial services provider’s stock, valued at approximately $247,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its position in shares of Prospect Capital by 54.3% during the fourth 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. Signaturefd LLC increased its stake in Prospect Capital by 62.7% during the fourth quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,746 shares during the last quarter. WealthPlan Investment Management LLC acquired a new position in shares of Prospect Capital during the third quarter worth approximately $62,000. Cape Investment Advisory Inc. boosted its position in shares of Prospect Capital by 2,279.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 13,299 shares of the financial services provider’s stock worth $80,000 after buying an additional 12,740 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in Prospect Capital by 1,149.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 13,459 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 12,382 shares during the period. 9.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSEC has been the subject of a number of analyst reports. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday. Wells Fargo & Company decreased their target price on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Thursday, May 16th.

Prospect Capital Stock Performance

PSEC opened at $5.52 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50 day moving average price of $5.51 and a two-hundred day moving average price of $5.67. Prospect Capital Co. has a 1-year low of $5.03 and a 1-year high of $6.69. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.24 and a beta of 1.01.

Prospect Capital (NASDAQ:PSEC) last released its 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. The company had revenue of $202.22 million for the quarter, compared to analysts’ expectations of $214.70 million. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.04%. The ex-dividend date is Wednesday, August 28th. Prospect Capital’s dividend payout ratio (DPR) is 211.76%.

Insider Transactions at Prospect Capital

In related news, CFO Dask Kristin Lea Van purchased 3,330 shares of Prospect Capital stock in a transaction dated Thursday, June 20th. The stock was acquired at an average cost of $22.50 per share, with a total value of $74,925.00. Following the completion of the transaction, the chief financial officer now directly owns 4,539 shares of the company’s stock, valued at $102,127.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.69% of the stock is owned by insiders.

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.