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

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

Analysts Set New Price Targets

A number of brokerages have weighed in on PSEC. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Wells Fargo & Company reduced their price objective on Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, May 16th.

Prospect Capital Stock Up 1.2 %

The stock has a fifty day moving average of $5.53 and a two-hundred day moving average of $5.56. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 15.35 and a beta of 1.01. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.66.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $202.22 million for the quarter, compared to analyst estimates 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 dividend of $0.06 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.72 annualized dividend and a dividend yield of 13.79%. Prospect Capital’s payout ratio is 211.76%.

Insiders Place Their Bets

In related news, CFO Dask Kristin Lea Van bought 3,330 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were bought at an average cost 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 approximately $102,127.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.69% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prospect Capital

Hedge funds have recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of Prospect Capital in the 2nd quarter worth $27,000. Headlands Technologies LLC raised its holdings in shares of Prospect Capital by 2,266.9% during the first 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 lifted its holdings in shares of 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 valued at $46,000 after buying an additional 2,722 shares during the last quarter. Signaturefd LLC increased its stake in shares of Prospect Capital by 62.7% during the 4th quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 3,746 shares during the last quarter. Finally, Edge Financial Advisors LLC acquired a new stake in shares of Prospect Capital in the first quarter worth about $55,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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.