Private Management Group Inc. Purchases 1,322,387 Shares of Prospect Capital Corporation $PSEC

Private Management Group Inc. boosted its position in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 6.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,857,191 shares of the financial services provider’s stock after buying an additional 1,322,387 shares during the quarter. Prospect Capital makes up 1.1% of Private Management Group Inc.’s holdings, making the stock its 12th biggest position. Private Management Group Inc.’s holdings in Prospect Capital were worth $45,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in shares of Prospect Capital by 55.5% in the second quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 6,056 shares during the period. Signaturefd LLC boosted its stake in shares of Prospect Capital by 255.2% during the 3rd quarter. Signaturefd LLC now owns 19,337 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 13,893 shares in the last quarter. Integrity Advisory Solutions LLC purchased a new stake in shares of Prospect Capital during the 3rd quarter worth about $29,000. Claro Advisors Inc. grew its position in shares of Prospect Capital by 7.8% during the 3rd quarter. Claro Advisors Inc. now owns 207,700 shares of the financial services provider’s stock valued at $432,000 after acquiring an additional 15,000 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of Prospect Capital during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Insider Buying and Selling at Prospect Capital

In related news, CEO John Barry. III purchased 1,217,105 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were purchased at an average cost of $2.24 per share, with a total value of $2,726,315.20. Following the purchase, the chief executive officer owned 90,479,988 shares of the company’s stock, valued at $202,675,173.12. This represents a 1.36% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 25.94% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on PSEC. Zacks Research upgraded Prospect Capital to a “hold” rating in a research note on Monday, October 5th. Wall Street Zen downgraded Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Weiss Ratings downgraded Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 26th. Finally, Wells Fargo & Company dropped their price objective on Prospect Capital from $2.00 to $1.50 and set an “underweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average price target of $1.50.

Prospect Capital Price Performance

Shares of NASDAQ PSEC opened at $1.51 on Tuesday. The firm has a market cap of $806.07 million, a PE ratio of -10.07 and a beta of 0.84. The firm has a fifty day moving average of $1.88 and a 200 day moving average of $2.33. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.87. Prospect Capital Corporation has a one year low of $1.29 and a one year high of $3.12.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. Prospect Capital had a net margin of 3.80% and a return on equity of 13.19%. The business had revenue of $151.74 million for the quarter, compared to the consensus estimate of $163.14 million. As a group, research analysts predict that Prospect Capital Corporation will post 0.38 EPS for the current fiscal year.

Prospect Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, February 17th. Investors of record on Wednesday, January 27th will be given a dividend of $0.0350 per share. This represents a $0.42 annualized dividend and a dividend yield of 27.8%. The ex-dividend date is Wednesday, January 27th. Prospect Capital’s dividend payout ratio is -280.00%.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company that provides financing to middle-market businesses. Its investments include senior and subordinated debt, structured finance, and equity securities.

The company works with businesses seeking capital for purposes such as growth, acquisitions, recapitalizations, and refinancing. Its portfolio spans a range of industries, with investments primarily in companies in the United States.

Founded in 2004, Prospect Capital is externally managed by Prospect Capital Management L.P.