California Public Employees Retirement System decreased its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 5.7% in the 4th quarter, HoldingsChannel reports. The firm owned 762,400 shares of the financial services provider’s stock after selling 45,700 shares during the period. California Public Employees Retirement System’s holdings in Prospect Capital were worth $5,139,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PSEC. Penn Mutual Life Insurance Co purchased a new position in shares of Prospect Capital during the third quarter worth about $3,992,000. Cowen Inc. grew its holdings in shares of Prospect Capital by 200.0% during the third quarter. Cowen Inc. now owns 248,000 shares of the financial services provider’s stock worth $1,667,000 after purchasing an additional 496,000 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Prospect Capital during the fourth quarter worth about $2,544,000. Eqis Capital Management Inc. grew its holdings in shares of Prospect Capital by 266.2% during the fourth quarter. Eqis Capital Management Inc. now owns 438,826 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 319,001 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Prospect Capital by 12.7% during the fourth quarter. LSV Asset Management now owns 1,929,792 shares of the financial services provider’s stock worth $13,006,000 after purchasing an additional 217,900 shares in the last quarter. 14.33% of the stock is owned by institutional investors.
Several research analysts have recently commented on the company. Zacks Investment Research raised Prospect Capital from a “sell” rating to a “hold” rating and set a $7.75 price objective for the company in a report on Thursday, January 11th. BidaskClub raised Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. BMO Capital Markets reissued a “hold” rating and set a $7.00 price objective on shares of Prospect Capital in a report on Monday, January 8th. ValuEngine lowered Prospect Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Finally, National Securities reissued a “sell” rating and set a $4.00 price objective on shares of Prospect Capital in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $6.81.
Shares of Prospect Capital Co. (NASDAQ PSEC) opened at $6.58 on Monday. The firm has a market capitalization of $2,370.00, a P/E ratio of 11.54 and a beta of 0.42. Prospect Capital Co. has a 12-month low of $5.51 and a 12-month high of $9.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 4.32 and a quick ratio of 4.32.
Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. The company had revenue of $162.40 million during the quarter, compared to the consensus estimate of $153.94 million. Prospect Capital had a return on equity of 8.36% and a net margin of 31.02%. Prospect Capital’s quarterly revenue was down 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. analysts expect that Prospect Capital Co. will post 0.74 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Thursday, April 19th. Investors of record on Friday, March 30th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.72 dividend on an annualized basis and a yield of 10.94%. Prospect Capital’s payout ratio is 126.32%.
Prospect Capital 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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