SMH Capital Advisors Inc. Has $1.17 Million Stock Position in Prospect Capital Corporation $PSEC

SMH Capital Advisors Inc. increased its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 201.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 438,847 shares of the financial services provider’s stock after buying an additional 293,311 shares during the period. Prospect Capital makes up approximately 2.4% of SMH Capital Advisors Inc.’s portfolio, making the stock its 8th biggest position. SMH Capital Advisors Inc.’s holdings in Prospect Capital were worth $1,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Prospect Capital by 29.3% during the first quarter. Goldman Sachs Group Inc. now owns 393,034 shares of the financial services provider’s stock valued at $1,611,000 after purchasing an additional 89,139 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Prospect Capital by 140.0% in the 1st quarter. Empowered Funds LLC now owns 88,397 shares of the financial services provider’s stock worth $362,000 after purchasing an additional 51,562 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Prospect Capital by 1,485.5% in the 2nd quarter. Allworth Financial LP now owns 28,348 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 26,560 shares during the last quarter. Foundations Investment Advisors LLC acquired a new position in Prospect Capital during the 2nd quarter valued at approximately $38,000. Finally, Creative Planning grew its stake in Prospect Capital by 15.0% during the 2nd quarter. Creative Planning now owns 188,464 shares of the financial services provider’s stock worth $599,000 after buying an additional 24,539 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSEC has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Wall Street Zen downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Prospect Capital currently has an average rating of “Sell” and an average target price of $2.50.

Insider Transactions at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek purchased 942,800 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was bought at an average price of $2.92 per share, with a total value of $2,752,976.00. Following the completion of the purchase, the chief operating officer owned 3,443,930 shares in the company, valued at $10,056,275.60. This trade represents a 37.69% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.98% of the company’s stock.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $2.73 on Monday. The firm’s 50 day moving average is $2.79 and its two-hundred day moving average is $2.74. The firm has a market capitalization of $1.32 billion, a P/E ratio of -3.37 and a beta of 0.87. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.62. Prospect Capital Corporation has a 52 week low of $2.45 and a 52 week high of $4.39.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.09. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.The business had revenue of $176.00 million during the quarter, compared to the consensus estimate of $156.34 million.

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, April 28th will be given a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a yield of 19.8%. The ex-dividend date is Tuesday, April 28th. Prospect Capital’s payout ratio is -66.67%.

Prospect Capital Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.