Short Interest in Prospect Capital Corp. (PSEC) Drops By 6.3%
Prospect Capital Corp. (NASDAQ:PSEC) saw a significant decrease in short interest during the month of September. As of September 15th, there was short interest totalling 30,560,303 shares, a decrease of 6.3% from the August 31st total of 32,623,018 shares. Approximately 9.5% of the shares of the stock are sold short. Based on an average daily volume of 3,164,055 shares, the short-interest ratio is currently 9.7 days.
Prospect Capital Corp. (NASDAQ:PSEC) opened at 8.10 on Friday. The company has a market cap of $2.90 billion, a PE ratio of 27.93 and a beta of 0.62. The firm’s 50-day moving average price is $8.30 and its 200-day moving average price is $7.82. Prospect Capital Corp. has a one year low of $5.21 and a one year high of $8.68.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its quarterly earnings data on Monday, August 29th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The firm earned $193.04 million during the quarter. Prospect Capital Corp. had a return on equity of 10.47% and a net margin of 13.05%. Prospect Capital Corp.’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 earnings per share. On average, equities research analysts forecast that Prospect Capital Corp. will post $0.99 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.0833 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.35%. Prospect Capital Corp.’s dividend payout ratio (DPR) is currently 344.83%.
Several analysts have recently commented on PSEC shares. Vetr upgraded Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $7.97 target price on the stock in a report on Monday, June 13th. Barclays PLC restated an “equal weight” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Zacks Investment Research upgraded Prospect Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. BMO Capital Markets restated a “market perform” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Thursday, September 1st. Finally, FBR & Co restated an “outperform” rating and set a $10.00 target price (up previously from $9.00) on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.60.
In other Prospect Capital Corp. news, CFO Brian H. Oswald bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were bought at an average price of $7.85 per share, for a total transaction of $31,400.00. Following the completion of the acquisition, the chief financial officer now owns 480,000 shares of the company’s stock, valued at $3,768,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. James Investment Research Inc. acquired a new position in Prospect Capital Corp. during the second quarter worth approximately $439,000. Eqis Capital Management Inc. boosted its position in Prospect Capital Corp. by 8.6% in the second quarter. Eqis Capital Management Inc. now owns 85,575 shares of the company’s stock worth $669,000 after buying an additional 6,744 shares during the period. DNB Asset Management AS boosted its position in Prospect Capital Corp. by 5.8% in the second quarter. DNB Asset Management AS now owns 131,500 shares of the company’s stock worth $1,034,000 after buying an additional 7,200 shares during the period. First Republic Investment Management Inc. boosted its position in Prospect Capital Corp. by 0.5% in the first quarter. First Republic Investment Management Inc. now owns 1,584,397 shares of the company’s stock worth $11,520,000 after buying an additional 8,297 shares during the period. Finally, Seven Eight Capital LLC acquired a new position in Prospect Capital Corp. during the first quarter worth approximately $519,000. 11.00% of the stock is owned by institutional investors.
Prospect Capital Corp. Company Profile
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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