Gotham Asset Management LLC Buys New Stake in Prospect Capital Corporation (PSEC)
Gotham Asset Management LLC acquired a new stake in Prospect Capital Corporation (NASDAQ:PSEC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 53,189 shares of the financial services provider’s stock, valued at approximately $481,000.
Other large investors have also recently bought and sold shares of the company. Muzinich & Co. Inc. raised its stake in Prospect Capital Corporation by 58.7% in the first quarter. Muzinich & Co. Inc. now owns 12,063,718 shares of the financial services provider’s stock valued at $109,056,000 after buying an additional 4,460,250 shares during the period. California Public Employees Retirement System raised its position in shares of Prospect Capital Corporation by 1,613.1% in the first quarter. California Public Employees Retirement System now owns 746,900 shares of the financial services provider’s stock valued at $6,752,000 after buying an additional 703,300 shares during the last quarter. LSV Asset Management boosted its position in Prospect Capital Corporation by 32.5% in the first quarter. LSV Asset Management now owns 1,775,956 shares of the financial services provider’s stock worth $16,054,000 after buying an additional 436,101 shares during the period. Van ECK Associates Corp boosted its position in Prospect Capital Corporation by 28.1% in the first quarter. Van ECK Associates Corp now owns 1,897,023 shares of the financial services provider’s stock worth $17,149,000 after buying an additional 415,831 shares during the period. Finally, Bank of Montreal Can boosted its position in Prospect Capital Corporation by 6.0% in the first quarter. Bank of Montreal Can now owns 5,635,500 shares of the financial services provider’s stock worth $50,946,000 after buying an additional 319,500 shares during the period. Institutional investors own 16.31% of the company’s stock.
Prospect Capital Corporation (NASDAQ:PSEC) traded up 0.37% on Friday, reaching $8.13. 1,166,172 shares of the company’s stock traded hands. The stock’s 50 day moving average is $8.14 and its 200 day moving average is $8.69. Prospect Capital Corporation has a 52-week low of $7.07 and a 52-week high of $9.58.
Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.04. Prospect Capital Corporation had a net margin of 40.82% and a return on equity of 9.56%. The company had revenue of $171 million during the quarter, compared to the consensus estimate of $185.36 million. During the same period in the previous year, the firm posted $0.25 EPS. The business’s quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts predict that Prospect Capital Corporation will post $0.87 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which was paid on Thursday, July 20th. Investors of record on Friday, June 30th were issued a dividend of $0.0833 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.00 dividend on an annualized basis and a yield of 12.30%. Prospect Capital Corporation’s payout ratio is 120.48%.
A number of equities analysts recently issued reports on PSEC shares. Zacks Investment Research lowered Prospect Capital Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. FBR & Co downgraded Prospect Capital Corporation from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $9.50 to $8.50 in a research report on Thursday, May 11th. BidaskClub upgraded Prospect Capital Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. National Securities reiterated a “sell” rating and issued a $7.00 price objective on shares of Prospect Capital Corporation in a report on Monday, May 15th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $7.00 price objective on shares of Prospect Capital Corporation in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $8.04.
In related news, CFO Brian H. Oswald bought 4,453 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was purchased at an average price of $8.05 per share, with a total value of $35,846.65. Following the completion of the acquisition, the chief financial officer now owns 490,000 shares of the company’s stock, valued at $3,944,500. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director William Gremp acquired 5,000 shares of Prospect Capital Corporation stock in a transaction dated Thursday, May 11th. The shares were bought at an average cost of $8.28 per share, with a total value of $41,400.00. Following the transaction, the director now owns 9,602 shares in the company, valued at $79,504.56. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 20,000 shares of company stock worth $162,361. 6.60% of the stock is owned by corporate insiders.
Prospect Capital Corporation Company 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.
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