Prospect Capital Co. (NASDAQ:PSEC) Stock Position Raised by Inspire Investing LLC

Inspire Investing LLC lifted its stake in Prospect Capital Co. (NASDAQ:PSEC) by 21.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,885 shares of the financial services provider’s stock after purchasing an additional 13,335 shares during the quarter. Inspire Investing LLC’s holdings in Prospect Capital were worth $411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. OLD National Bancorp IN purchased a new stake in shares of Prospect Capital in the second quarter valued at $137,000. Quadrature Capital Ltd acquired a new stake in Prospect Capital during the 4th quarter worth about $888,000. Kingsview Wealth Management LLC acquired a new position in shares of Prospect Capital in the 1st quarter valued at about $91,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Prospect Capital in the first quarter worth approximately $94,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Prospect Capital by 59.7% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 147,460 shares during the period. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Trading Up 0.4 %

Shares of NASDAQ PSEC opened at $5.30 on Friday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 15.14 and a beta of 1.00. The business has a 50 day simple moving average of $5.21 and a 200 day simple moving average of $5.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.93. Prospect Capital Co. has a 52 week low of $4.69 and a 52 week high of $6.30.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.07. The business had revenue of $212.26 million during the quarter. Prospect Capital had a net margin of 28.07% and a return on equity of 13.53%. During the same period in the previous year, the firm posted $0.23 EPS.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.58%. The ex-dividend date of this dividend is Tuesday, October 29th. Prospect Capital’s payout ratio is 205.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th.

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.