Tudor Investment Corp ET AL Boosts Holdings in Prospect Capital Corporation $PSEC

Tudor Investment Corp ET AL increased its position in Prospect Capital Corporation (NASDAQ:PSEC) by 12.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604,286 shares of the financial services provider’s stock after purchasing an additional 282,119 shares during the period. Tudor Investment Corp ET AL owned approximately 0.55% of Prospect Capital worth $7,162,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PSEC. Navalign LLC purchased a new position in Prospect Capital in the third quarter worth about $28,000. A4 Wealth Advisors LLC purchased a new stake in shares of Prospect Capital during the third quarter valued at approximately $34,000. Significant Wealth Partners LLC increased its position in shares of Prospect Capital by 59.1% during the third quarter. Significant Wealth Partners LLC now owns 17,947 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 6,664 shares in the last quarter. Equitable Holdings Inc. bought a new stake in shares of Prospect Capital during the third quarter valued at approximately $51,000. Finally, State of Alaska Department of Revenue purchased a new position in Prospect Capital in the 3rd quarter worth approximately $51,000. 9.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Prospect Capital

In related news, COO M Grier Eliasek bought 942,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were bought at an average cost of $2.92 per share, with a total value of $2,752,976.00. Following the acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.98% of the stock is owned by company insiders.

Prospect Capital Price Performance

NASDAQ PSEC opened at $2.57 on Tuesday. The company has a 50-day moving average price of $2.77 and a 200-day moving average price of $2.71. Prospect Capital Corporation has a 52 week low of $2.45 and a 52 week high of $4.28. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $1.25 billion, a P/E ratio of -3.17 and a beta of 0.87.

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

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, April 28th will be paid a $0.045 dividend. This represents a c) annualized dividend and a dividend yield of 21.0%. The ex-dividend date is Tuesday, April 28th. Prospect Capital’s dividend payout ratio is -66.67%.

Analysts Set New Price Targets

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

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.