Cwm LLC Grows Position in Prospect Capital Co. (NASDAQ:PSEC)

Cwm LLC increased its position in Prospect Capital Co. (NASDAQ:PSEC) by 101.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,310 shares of the financial services provider’s stock after buying an additional 9,721 shares during the quarter. Cwm LLC’s holdings in Prospect Capital were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in shares of Prospect Capital in the second quarter valued at about $27,000. Headlands Technologies LLC grew its stake in shares of Prospect Capital by 2,266.9% in the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 7,254 shares during the last quarter. Edge Financial Advisors LLC purchased a new position in Prospect Capital during the 1st quarter valued at about $55,000. Cutter & CO Brokerage Inc. purchased a new position in Prospect Capital during the 1st quarter valued at about $65,000. Finally, Empowered Funds LLC bought a new position in Prospect Capital during the 1st quarter valued at approximately $73,000. 9.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Prospect Capital Price Performance

PSEC stock opened at $5.31 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.93. Prospect Capital Co. has a 1 year low of $4.69 and a 1 year high of $6.30. The firm has a 50-day moving average of $5.25 and a 200 day moving average of $5.38. The company has a market cap of $2.22 billion, a P/E ratio of 15.62 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The firm had revenue of $212.26 million for the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same quarter last year, the company posted $0.23 EPS.

Prospect Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 13.56%. The ex-dividend date of this dividend is Tuesday, October 29th. Prospect Capital’s dividend payout ratio is currently 211.76%.

Prospect Capital Company 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.