Penn Mutual Life Insurance Co Invests $3.99 Million in Prospect Capital Corporation (PSEC) Stock

Penn Mutual Life Insurance Co acquired a new position in Prospect Capital Corporation (NASDAQ:PSEC) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 594,000 shares of the financial services provider’s stock, valued at approximately $3,992,000. Prospect Capital accounts for 2.7% of Penn Mutual Life Insurance Co’s holdings, making the stock its 13th biggest position. Penn Mutual Life Insurance Co owned approximately 0.16% of Prospect Capital at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSEC. Trexquant Investment LP purchased a new stake in Prospect Capital in the 3rd quarter worth approximately $108,000. Regal Investment Advisors LLC lifted its holdings in Prospect Capital by 19.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after buying an additional 2,720 shares during the period. Summit Securities Group LLC purchased a new stake in Prospect Capital in the 2nd quarter worth approximately $142,000. Advisory Services Network LLC lifted its holdings in Prospect Capital by 0.6% in the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after buying an additional 105 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Prospect Capital by 8.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock worth $160,000 after buying an additional 1,507 shares during the period. Institutional investors and hedge funds own 15.72% of the company’s stock.

Several research firms have weighed in on PSEC. BidaskClub cut Prospect Capital from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Raymond James Financial raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. National Securities decreased their target price on Prospect Capital from $7.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, August 30th. UBS raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, ValuEngine raised Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Prospect Capital has a consensus rating of “Hold” and an average target price of $6.17.

In related news, insider M Grier Eliasek acquired 65,000 shares of Prospect Capital stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average price of $5.65 per share, with a total value of $367,250.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John F. Barry acquired 995,883 shares of Prospect Capital stock in a transaction that occurred on Monday, November 20th. The shares were bought at an average cost of $6.98 per share, with a total value of $6,951,263.34. Following the transaction, the insider now owns 25,219,413 shares in the company, valued at $176,031,502.74. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,075,280 shares of company stock valued at $14,121,958. 7.10% of the stock is owned by corporate insiders.

Prospect Capital Corporation (PSEC) opened at $6.69 on Thursday. Prospect Capital Corporation has a 52-week low of $5.51 and a 52-week high of $9.58. The stock has a market capitalization of $2,411.04, a P/E ratio of 8.26 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.63 and a quick ratio of 2.63.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The firm had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. During the same period in the prior year, the company posted $0.22 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. research analysts expect that Prospect Capital Corporation will post 0.72 earnings per share for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date is Tuesday, January 30th. Prospect Capital’s dividend payout ratio (DPR) is presently 144.00%.

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Prospect Capital Profile

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Institutional Ownership by Quarter for Prospect Capital (NASDAQ:PSEC)

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