Trent Capital Management Inc. NC Invests $185,000 in Prospect Capital Corporation (NASDAQ:PSEC)

Trent Capital Management Inc. NC acquired a new stake in Prospect Capital Corporation (NASDAQ:PSEC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,765 shares of the financial services provider’s stock, valued at approximately $185,000.

Several other large investors have also added to or reduced their stakes in PSEC. Muzinich & Co. Inc. raised its position in Prospect Capital Corporation by 58.7% in the first quarter. Muzinich & Co. Inc. now owns 12,063,718 shares of the financial services provider’s stock worth $109,056,000 after buying an additional 4,460,250 shares during the period. Bank of Montreal Can raised its position in Prospect Capital Corporation by 4.6% in the second quarter. Bank of Montreal Can now owns 5,892,500 shares of the financial services provider’s stock worth $47,847,000 after buying an additional 257,000 shares during the period. Van ECK Associates Corp raised its position in Prospect Capital Corporation by 28.1% in the first quarter. Van ECK Associates Corp now owns 1,897,023 shares of the financial services provider’s stock worth $17,149,000 after buying an additional 415,831 shares during the period. LSV Asset Management raised its position in Prospect Capital Corporation by 32.5% in the first quarter. LSV Asset Management now owns 1,775,956 shares of the financial services provider’s stock worth $16,054,000 after buying an additional 436,101 shares during the period. Finally, Advisors Asset Management Inc. raised its position in Prospect Capital Corporation by 14.5% in the first quarter. Advisors Asset Management Inc. now owns 1,028,033 shares of the financial services provider’s stock worth $9,293,000 after buying an additional 130,088 shares during the period. Institutional investors and hedge funds own 16.34% of the company’s stock.

Prospect Capital Corporation (PSEC) opened at 8.12 on Thursday. Prospect Capital Corporation has a 1-year low of $7.07 and a 1-year high of $9.58. The stock’s 50 day moving average is $8.16 and its 200-day moving average is $8.67.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.24 by $0.04. Prospect Capital Corporation had a return on equity of 9.56% and a net margin of 40.82%. The business had revenue of $171 million for the quarter, compared to analyst estimates of $185.36 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. The company’s revenue was down 9.8% compared to the same quarter last year. On average, equities research analysts predict that Prospect Capital Corporation will post $0.87 earnings per share for the current year.

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A number of research firms have issued reports on PSEC. Zacks Investment Research upgraded shares of Prospect Capital Corporation from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Wednesday, April 12th. BMO Capital Markets restated a “hold” rating and issued a $7.00 target price on shares of Prospect Capital Corporation in a report on Thursday, June 1st. FBR & Co lowered shares of Prospect Capital Corporation from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $9.50 to $8.50 in a report on Thursday, May 11th. BidaskClub upgraded shares of Prospect Capital Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 28th. Finally, National Securities restated a “sell” rating and issued a $7.00 target price on shares of Prospect Capital Corporation in a report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.04.

In other Prospect Capital Corporation news, CFO Brian H. Oswald acquired 4,453 shares of the firm’s stock in a transaction on Friday, May 12th. The stock was purchased at an average cost of $8.05 per share, for a total transaction of $35,846.65. Following the transaction, the chief financial officer now owns 490,000 shares of the company’s stock, valued at approximately $3,944,500. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.60% of the company’s stock.

Prospect Capital Corporation Company Profile

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

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Institutional Ownership by Quarter for Prospect Capital Corporation (NASDAQ:PSEC)

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