Prospect Capital Corporation (NASDAQ:PSEC) Announces $0.04 Monthly Dividend

Prospect Capital Corporation (NASDAQ:PSEC) announced a monthly dividend on Thursday, May 7th. Investors of record on Wednesday, July 29th will be paid a dividend of 0.035 per share by the financial services provider on Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 16.9%. The ex-dividend date of this dividend is Wednesday, July 29th.

Prospect Capital has decreased its dividend by an average of 0.0%annually over the last three years. Prospect Capital has a dividend payout ratio of 114.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Prospect Capital Price Performance

PSEC traded down $0.27 during trading on Friday, reaching $2.49. 5,801,396 shares of the company were exchanged, compared to its average volume of 4,498,310. The company’s 50-day moving average is $2.67 and its two-hundred day moving average is $2.70. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -3.06 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. Prospect Capital has a 12-month low of $2.45 and a 12-month high of $3.77.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.The business had revenue of $150.07 million for the quarter, compared to analysts’ expectations of $163.23 million.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek purchased 942,800 shares of the stock in a transaction on Wednesday, February 11th. The shares were purchased at an average price of $2.92 per share, with a total value of $2,752,976.00. Following the acquisition, the chief operating officer directly owned 3,443,930 shares in the company, valued at approximately $10,056,275.60. The trade was a 37.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prospect Capital

A number of large investors have recently modified their holdings of the company. Raymond James Financial Inc. raised its holdings in shares of Prospect Capital by 0.5% during the 2nd quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock valued at $2,685,000 after buying an additional 3,880 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Prospect Capital by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 1,711,638 shares of the financial services provider’s stock valued at $4,467,000 after buying an additional 6,262 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Prospect Capital by 1.3% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 520,592 shares of the financial services provider’s stock valued at $1,655,000 after buying an additional 6,516 shares in the last quarter. Significant Wealth Partners LLC raised its holdings in shares of Prospect Capital by 59.1% during the 3rd quarter. Significant Wealth Partners LLC now owns 17,947 shares of the financial services provider’s stock valued at $49,000 after buying an additional 6,664 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of Prospect Capital by 10.8% during the 3rd quarter. ProShare Advisors LLC now owns 81,823 shares of the financial services provider’s stock valued at $225,000 after buying an additional 7,994 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

About Prospect Capital

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.