Prospect Capital Corp. (PSEC) to Issue Nov 16 Dividend of $0.08 on December 22nd
Prospect Capital Corp. (NASDAQ:PSEC) announced a nov 16 dividend on Tuesday, November 8th. Shareholders of record on Wednesday, November 30th will be given a dividend of 0.0833 per share on Thursday, December 22nd. This represents a yield of 13.19%. The ex-dividend date is Monday, November 28th.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 8.05 on Wednesday. Prospect Capital Corp. has a 52-week low of $5.21 and a 52-week high of $8.68. The firm’s 50-day moving average price is $7.90 and its 200-day moving average price is $7.99. The stock has a market capitalization of $2.88 billion, a P/E ratio of 27.76 and a beta of 0.49.
Prospect Capital Corp. (NASDAQ:PSEC) last released its earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.02. The business earned $179.83 million during the quarter, compared to analysts’ expectations of $185.46 million. Prospect Capital Corp. had a net margin of 20.34% and a return on equity of 10.25%. Prospect Capital Corp.’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS. Equities analysts forecast that Prospect Capital Corp. will post $0.93 earnings per share for the current fiscal year.
In related news, CFO Brian H. Oswald bought 4,000 shares of the business’s stock in a transaction on Tuesday, September 13th. The shares were bought at an average cost of $7.85 per share, for a total transaction of $31,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 480,000 shares in the company, valued at $3,768,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 6.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of PSEC. Two Sigma Advisers LP raised its position in Prospect Capital Corp. by 1,451.9% in the third quarter. Two Sigma Advisers LP now owns 377,185 shares of the company’s stock valued at $3,055,000 after buying an additional 352,881 shares during the period. First Allied Advisory Services Inc. raised its position in Prospect Capital Corp. by 87.8% in the second quarter. First Allied Advisory Services Inc. now owns 77,500 shares of the company’s stock valued at $606,000 after buying an additional 36,226 shares during the period. Guggenheim Capital LLC raised its position in Prospect Capital Corp. by 5.0% in the second quarter. Guggenheim Capital LLC now owns 358,065 shares of the company’s stock valued at $2,800,000 after buying an additional 16,991 shares during the period. KCG Holdings Inc. raised its position in Prospect Capital Corp. by 207.0% in the second quarter. KCG Holdings Inc. now owns 140,911 shares of the company’s stock valued at $1,102,000 after buying an additional 95,006 shares during the period. Finally, Camelot Portfolios LLC raised its position in Prospect Capital Corp. by 6.5% in the second quarter. Camelot Portfolios LLC now owns 541,202 shares of the company’s stock valued at $4,232,000 after buying an additional 32,897 shares during the period. Institutional investors own 10.85% of the company’s stock.
PSEC has been the subject of a number of research analyst reports. Vetr upgraded Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $8.72 target price for the company in a report on Wednesday, September 21st. FBR & Co reiterated a “buy” rating and set a $9.00 price objective on shares of Prospect Capital Corp. in a report on Thursday, November 10th. Barclays PLC reiterated an “equal weight” rating and set a $7.00 price objective on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. BMO Capital Markets reiterated a “market perform” rating and set a $7.00 price objective on shares of Prospect Capital Corp. in a report on Thursday, September 1st. Finally, TheStreet lowered Prospect Capital Corp. from a “buy” rating to a “hold” rating in a report on Thursday, November 10th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Prospect Capital Corp. currently has an average rating of “Hold” and a consensus target price of $7.50.
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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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