XTX Topco Ltd Takes Position in Prospect Capital Co. (NASDAQ:PSEC)

XTX Topco Ltd bought a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,509 shares of the financial services provider’s stock, valued at approximately $88,000.

Several other hedge funds have also recently added to or reduced their stakes in PSEC. XML Financial LLC increased its position in shares of Prospect Capital by 8.1% in the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after purchasing an additional 153,180 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Prospect Capital by 23.3% during the third quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after purchasing an additional 1,690,290 shares in the last quarter. Creative Planning increased its holdings in Prospect Capital by 387.3% in the second quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after buying an additional 139,842 shares during the last quarter. International Assets Investment Management LLC raised its stake in Prospect Capital by 344.0% in the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after buying an additional 722,925 shares in the last quarter. Finally, CWM LLC lifted its holdings in Prospect Capital by 101.4% during the 3rd quarter. CWM LLC now owns 19,310 shares of the financial services provider’s stock worth $103,000 after buying an additional 9,721 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Stock Performance

NASDAQ PSEC opened at $4.19 on Friday. The company has a fifty day moving average of $4.78 and a two-hundred day moving average of $5.15. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. Prospect Capital Co. has a 1 year low of $4.12 and a 1 year high of $6.30. The company has a market capitalization of $1.83 billion, a PE ratio of -16.12 and a beta of 0.97.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $196.31 million for the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.045 per share. This represents a $0.54 annualized dividend and a yield of 12.89%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s payout ratio is currently -207.69%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSEC. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company cut their price objective 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.

Insider Buying and Selling at Prospect Capital

In related news, COO M Grier Eliasek purchased 210,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,131,130 shares in the company, valued at $10,250,735.30. This trade represents a 10.93 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John F. Barry acquired 1,000,000 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was purchased at an average cost of $4.78 per share, for a total transaction of $4,780,000.00. Following the completion of the purchase, the chief executive officer now directly owns 77,465,298 shares in the company, valued at $370,284,124.44. This trade represents a 1.31 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 3,273,173 shares of company stock worth $15,121,420. 27.10% of the stock is owned by company 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.