LSV Asset Management Buys 298,400 Shares of Prospect Capital Co. (NASDAQ:PSEC)

LSV Asset Management boosted its stake in Prospect Capital Co. (NASDAQ:PSEC) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,035,654 shares of the financial services provider’s stock after acquiring an additional 298,400 shares during the period. LSV Asset Management owned 0.50% of Prospect Capital worth $12,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSEC. DNB Asset Management AS increased its position in shares of Prospect Capital by 19.8% during the fourth quarter. DNB Asset Management AS now owns 254,115 shares of the financial services provider’s stock worth $1,522,000 after buying an additional 42,005 shares during the period. Van ECK Associates Corp grew its holdings in Prospect Capital by 8.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,884,389 shares of the financial services provider’s stock worth $29,551,000 after acquiring an additional 360,385 shares during the period. Jump Financial LLC raised its position in shares of Prospect Capital by 1,166.6% in the 3rd quarter. Jump Financial LLC now owns 159,400 shares of the financial services provider’s stock worth $964,000 after acquiring an additional 146,815 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Prospect Capital by 3.6% in the 3rd quarter. HighTower Advisors LLC now owns 158,932 shares of the financial services provider’s stock valued at $961,000 after purchasing an additional 5,588 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Prospect Capital by 613.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 111,012 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 95,444 shares in the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Trading Up 0.2 %

NASDAQ:PSEC opened at $5.26 on Wednesday. Prospect Capital Co. has a 12 month low of $5.03 and a 12 month high of $6.69. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -26.30 and a beta of 1.00. The firm has a fifty day simple moving average of $5.43 and a two-hundred day simple moving average of $5.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.67.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The firm had revenue of $210.94 million for the quarter, compared to analyst estimates of $226.14 million. Analysts expect that Prospect Capital Co. will post 0.82 EPS for the current fiscal year.

Prospect Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Friday, April 26th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.69%. The ex-dividend date is Thursday, April 25th. Prospect Capital’s dividend payout ratio (DPR) is -359.98%.

Insider Buying and Selling at Prospect Capital

In other news, CFO Dask Kristin Lea Van purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were bought at an average cost of $5.44 per share, with a total value of $27,200.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $54,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.69% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research note on Monday, January 29th. StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

About Prospect Capital

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.