Prospect Capital (NASDAQ:PSEC) Reaches New 12-Month Low at $5.02

Prospect Capital Co. (NASDAQ:PSEC) reached a new 52-week low on Monday . The company traded as low as $5.02 and last traded at $5.09, with a volume of 1005427 shares traded. The stock had previously closed at $5.25.

Analysts Set New Price Targets

PSEC has been the subject of several recent analyst reports. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. Wells Fargo & Company dropped 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 Up 1.2 %

The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average price of $5.53 and a 200-day moving average price of $5.56. The firm has a market capitalization of $2.18 billion, a PE ratio of 15.35 and a beta of 1.01.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. The company had revenue of $202.22 million for the quarter, compared to the consensus estimate of $214.70 million.

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be given a dividend of $0.06 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.72 annualized dividend and a yield of 13.79%. Prospect Capital’s dividend payout ratio (DPR) is presently 211.76%.

Insider Buying and Selling

In other Prospect Capital news, CFO Dask Kristin Lea Van purchased 3,330 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were acquired at an average price of $22.50 per share, for a total transaction of $74,925.00. Following the completion of the purchase, the chief financial officer now owns 4,539 shares of the company’s stock, valued at $102,127.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 26.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prospect Capital

A number of hedge funds have recently modified their holdings of the business. Rothschild Investment LLC acquired a new position in shares of Prospect Capital in the 2nd quarter valued at $27,000. Headlands Technologies LLC raised its stake in Prospect Capital by 2,266.9% during the 1st quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 7,254 shares in the last quarter. Private Trust Co. NA grew its stake in Prospect Capital by 54.3% during the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock worth $46,000 after buying an additional 2,722 shares during the last quarter. Edge Financial Advisors LLC purchased a new stake in Prospect Capital in the 1st quarter valued at $55,000. Finally, Signaturefd LLC boosted its stake in shares of Prospect Capital by 62.7% during the fourth quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,746 shares during the period. 9.06% of the stock is currently owned by institutional investors and hedge funds.

About Prospect Capital

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.