KG&L Capital Management LLC boosted its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 16.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,664 shares of the financial services provider’s stock after purchasing an additional 1,929 shares during the period. KG&L Capital Management LLC’s holdings in Prospect Capital were worth $90,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in Prospect Capital during the second quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC purchased a new position in Prospect Capital during the second quarter valued at approximately $63,000. Mycio Wealth Partners LLC purchased a new position in Prospect Capital during the second quarter valued at approximately $67,000. Wealthsource Partners LLC purchased a new position in Prospect Capital during the second quarter valued at approximately $84,000. Finally, GSA Capital Partners LLP purchased a new position in Prospect Capital during the second quarter valued at approximately $95,000. 12.48% of the stock is currently owned by hedge funds and other institutional investors.
PSEC has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. BidaskClub raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. ValuEngine raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, TheStreet downgraded shares of Prospect Capital from a “b-” rating to a “c” rating in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Prospect Capital currently has a consensus rating of “Hold” and an average price target of $6.00.
PSEC stock traded down $0.01 during trading hours on Friday, hitting $6.48. The company’s stock had a trading volume of 29,263 shares, compared to its average volume of 1,382,782. The stock has a 50 day moving average price of $6.54 and a two-hundred day moving average price of $6.59. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.72. Prospect Capital Co. has a 12 month low of $5.70 and a 12 month high of $7.19. The company has a market capitalization of $2.36 billion, a PE ratio of 7.65 and a beta of 0.75.
Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Tuesday, August 27th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Prospect Capital had a return on equity of 9.36% and a net margin of 20.53%. The firm had revenue of $164.40 million during the quarter, compared to analyst estimates of $166.69 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Prospect Capital’s quarterly revenue was down 5.5% compared to the same quarter last year. Sell-side analysts expect that Prospect Capital Co. will post 0.74 earnings per share for the current year.
The company also recently disclosed a — dividend, which will be paid on Thursday, October 24th. Stockholders of record on Monday, September 30th will be paid a $0.06 dividend. This represents a dividend yield of 11.3%. The ex-dividend date is Friday, September 27th. Prospect Capital’s payout ratio is 84.71%.
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.
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