International Assets Investment Management LLC Increases Stake in Prospect Capital Co. (NASDAQ:PSEC)

International Assets Investment Management LLC increased its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 344.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 933,083 shares of the financial services provider’s stock after purchasing an additional 722,925 shares during the quarter. International Assets Investment Management LLC owned 0.22% of Prospect Capital worth $4,992,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Strategies Wealth Advisors LLC boosted its holdings in shares of Prospect Capital by 7.2% during the third quarter. Strategies Wealth Advisors LLC now owns 33,957 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 2,277 shares during the period. Moloney Securities Asset Management LLC increased its stake in shares of Prospect Capital by 4.7% during the second quarter. Moloney Securities Asset Management LLC now owns 63,802 shares of the financial services provider’s stock valued at $353,000 after buying an additional 2,875 shares during the period. IFG Advisory LLC raised its holdings in shares of Prospect Capital by 9.0% during the second quarter. IFG Advisory LLC now owns 36,195 shares of the financial services provider’s stock valued at $200,000 after acquiring an additional 3,000 shares in the last quarter. EMC Capital Management lifted its stake in Prospect Capital by 24.5% in the first quarter. EMC Capital Management now owns 20,762 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 4,085 shares during the period. Finally, Rothschild Investment LLC bought a new stake in Prospect Capital in the second quarter valued at $27,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Price Performance

PSEC opened at $5.13 on Friday. Prospect Capital Co. has a 52-week low of $4.69 and a 52-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. The company’s 50-day simple moving average is $5.27 and its two-hundred day simple moving average is $5.37. The stock has a market capitalization of $2.22 billion, a P/E ratio of 14.66 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. The company 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 last year, the company posted $0.23 EPS.

Prospect Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, October 29th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 14.04%. The ex-dividend date of this dividend is Tuesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is presently 205.71%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their target price on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th.

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.