Global Assets Advisory LLC Buys Shares of 11,992 Prospect Capital Co. (NASDAQ:PSEC)

Global Assets Advisory LLC purchased a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 11,992 shares of the financial services provider’s stock, valued at approximately $64,000.

Other hedge funds have also recently modified their holdings of the company. OLD National Bancorp IN bought a new stake in Prospect Capital during the 2nd quarter worth approximately $137,000. Kingsview Wealth Management LLC purchased a new position in shares of Prospect Capital during the 1st quarter valued at $91,000. Envestnet Portfolio Solutions Inc. bought a new position in Prospect Capital in the 1st quarter worth $94,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Prospect Capital by 59.7% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock worth $2,177,000 after buying an additional 147,460 shares in the last quarter. Finally, Creative Planning raised its holdings in Prospect Capital by 387.3% during the second quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after acquiring an additional 139,842 shares during the period. Institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PSEC shares. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company reduced their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

Prospect Capital Price Performance

NASDAQ:PSEC opened at $5.34 on Friday. The business’s 50-day moving average is $5.24 and its 200 day moving average is $5.38. Prospect Capital Co. has a 12 month low of $4.69 and a 12 month high of $6.30. The company has a market capitalization of $2.31 billion, a P/E ratio of 15.26 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results 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. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The firm had revenue of $212.26 million during the quarter. During the same quarter in the prior year, the company posted $0.23 earnings per share.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, October 29th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 13.48%. The ex-dividend date is Tuesday, October 29th. Prospect Capital’s dividend payout ratio is 205.71%.

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.