Robeco Institutional Asset Management B.V. reduced its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 66.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 80,048 shares of the financial services provider’s stock after selling 161,811 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Prospect Capital were worth $524,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Wesbanco Bank Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $107,000. Kovack Advisors Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $111,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $130,000. Alpha Cubed Investments LLC purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $153,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $150,000. Institutional investors and hedge funds own 12.73% of the company’s stock.
A number of equities research analysts have recently issued reports on PSEC shares. BidaskClub lowered Prospect Capital from a “hold” rating to a “sell” rating in a research report on Monday, April 30th. ValuEngine lowered Prospect Capital from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Prospect Capital from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Tuesday, May 15th. Finally, National Securities restated a “sell” rating and issued a $4.00 price target on shares of Prospect Capital in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.17.
PSEC stock opened at $6.83 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.49 billion, a PE ratio of 8.04 and a beta of 0.43. Prospect Capital Co. has a 1 year low of $5.51 and a 1 year high of $8.40.
Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Wednesday, May 9th. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $162.84 million during the quarter, compared to analyst estimates of $153.08 million. Prospect Capital had a return on equity of 8.31% and a net margin of 36.39%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. equities research analysts predict that Prospect Capital Co. will post 0.76 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, September 20th. Investors of record on Friday, August 31st will be given a $0.06 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.72 annualized dividend and a yield of 10.54%. Prospect Capital’s payout ratio is 84.71%.
Prospect Capital Company Profile
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions.
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