Prospect Capital Co. (NASDAQ:PSEC) Shares Purchased by Creative Planning

Creative Planning increased its position in Prospect Capital Co. (NASDAQ:PSEC) by 387.3% in the second quarter, HoldingsChannel.com reports. The fund owned 175,953 shares of the financial services provider’s stock after buying an additional 139,842 shares during the period. Creative Planning’s holdings in Prospect Capital were worth $973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSEC. Rothschild Investment LLC purchased a new position in Prospect Capital in the 2nd quarter worth $27,000. Headlands Technologies LLC raised its stake in Prospect Capital by 2,266.9% in the 1st quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 7,254 shares during the last quarter. Edge Financial Advisors LLC purchased a new position in Prospect Capital in the 1st quarter worth $55,000. Cutter & CO Brokerage Inc. purchased a new position in Prospect Capital in the 1st quarter worth $65,000. Finally, Empowered Funds LLC purchased a new position in Prospect Capital in the 1st quarter worth $73,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Stock Performance

NASDAQ PSEC opened at $5.15 on Friday. The stock has a 50-day simple moving average of $5.19 and a two-hundred day simple moving average of $5.39. The firm has a market capitalization of $2.15 billion, a P/E ratio of 15.15 and a beta of 1.00. Prospect Capital Co. has a fifty-two week low of $4.69 and a fifty-two week high of $6.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.93.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $212.26 million during the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same quarter in the previous year, the business posted $0.23 EPS.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.72 annualized dividend and a dividend yield of 13.98%. Prospect Capital’s dividend payout ratio is presently 211.76%.

Analyst Upgrades and Downgrades

PSEC has been the subject of a number of research analyst reports. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, August 30th.

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.