Virtus ETF Advisers LLC Makes New $4.43 Million Investment in Prospect Capital Co. (NASDAQ:PSEC)
Virtus ETF Advisers LLC purchased a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 677,869 shares of the financial services provider’s stock, valued at approximately $4,426,000. Prospect Capital accounts for 0.9% of Virtus ETF Advisers LLC’s investment portfolio, making the stock its 6th biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new position in shares of Prospect Capital in the second quarter valued at approximately $63,000. Mycio Wealth Partners LLC bought a new position in shares of Prospect Capital in the second quarter valued at approximately $67,000. KG&L Capital Management LLC bought a new position in shares of Prospect Capital in the second quarter valued at approximately $76,000. Alpine Global Management LLC bought a new position in shares of Prospect Capital in the first quarter valued at approximately $78,000. Finally, Wealthsource Partners LLC bought a new position in shares of Prospect Capital in the second quarter valued at approximately $84,000. Hedge funds and other institutional investors own 12.49% of the company’s stock.
In other news, CEO John F. Barry purchased 139,761 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was bought at an average price of $6.40 per share, with a total value of $894,470.40. Following the acquisition, the chief executive officer now directly owns 39,460,914 shares of the company’s stock, valued at $252,549,849.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Barry purchased 237,857 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $6.34 per share, with a total value of $1,508,013.38. Following the acquisition, the chief executive officer now directly owns 39,906,051 shares in the company, valued at $253,004,363.34. The disclosure for this purchase can be found here. Insiders have acquired a total of 515,457 shares of company stock valued at $3,276,383 in the last ninety days. Company insiders own 10.20% of the company’s stock.
PSEC traded down $0.02 during trading on Thursday, reaching $6.71. 1,674,945 shares of the company’s stock were exchanged, compared to its average volume of 1,663,047. The company’s fifty day moving average price is $6.54 and its 200-day moving average price is $6.61. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.25 and a current ratio of 1.25. Prospect Capital Co. has a fifty-two week low of $5.70 and a fifty-two week high of $7.46. The firm has a market capitalization of $2.46 billion, a PE ratio of 7.89 and a beta of 0.76.
Prospect Capital (NASDAQ:PSEC) last released its earnings results on Tuesday, August 27th. The financial services provider reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Prospect Capital had a return on equity of 9.36% and a net margin of 20.53%. The business had revenue of $164.40 million for the quarter, compared to analyst estimates of $166.69 million. During the same period in the prior year, the firm posted $0.22 EPS. Prospect Capital’s revenue was down 5.5% on a year-over-year basis. Research analysts forecast that Prospect Capital Co. will post 0.74 earnings per share for the current fiscal year.
The firm also recently announced a — dividend, which will be paid on Thursday, October 24th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.06 per share. This represents a yield of 11.3%. The ex-dividend date is Friday, September 27th. Prospect Capital’s dividend payout ratio is presently 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, 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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