Axxcess Wealth Management LLC raised its position in Prospect Capital Co. (NASDAQ:PSEC – Get Rating) by 16.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,089 shares of the financial services provider’s stock after purchasing an additional 8,308 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Prospect Capital were worth $406,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. grew its position in Prospect Capital by 1.5% during the 1st quarter. Westwood Holdings Group Inc. now owns 94,031 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 1,364 shares during the last quarter. Guggenheim Capital LLC boosted its position in Prospect Capital by 5.0% in the 1st quarter. Guggenheim Capital LLC now owns 38,212 shares of the financial services provider’s stock valued at $316,000 after buying an additional 1,825 shares during the last quarter. Traynor Capital Management Inc. boosted its position in Prospect Capital by 14.0% in the 2nd quarter. Traynor Capital Management Inc. now owns 17,252 shares of the financial services provider’s stock valued at $120,000 after buying an additional 2,118 shares during the last quarter. XML Financial LLC boosted its position in Prospect Capital by 1.0% in the 2nd quarter. XML Financial LLC now owns 227,256 shares of the financial services provider’s stock valued at $1,589,000 after buying an additional 2,148 shares during the last quarter. Finally, Prospera Financial Services Inc boosted its position in Prospect Capital by 3.2% in the 1st quarter. Prospera Financial Services Inc now owns 79,500 shares of the financial services provider’s stock valued at $658,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 7.50% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on PSEC. Wells Fargo & Company increased their price objective on Prospect Capital from $5.75 to $6.00 and gave the company an “underweight” rating in a research report on Friday, November 11th. StockNews.com began coverage on Prospect Capital in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.
Prospect Capital Stock Performance
Prospect Capital (NASDAQ:PSEC – Get Rating) last posted its quarterly earnings results on Monday, August 29th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $184.62 million for the quarter, compared to the consensus estimate of $179.74 million. Prospect Capital had a return on equity of 9.50% and a net margin of 36.40%. During the same quarter in the prior year, the business posted $0.17 EPS. Equities research analysts forecast that Prospect Capital Co. will post 0.96 EPS for the current year.
Prospect Capital Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, February 16th. Investors of record on Friday, January 27th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 9.24%. The ex-dividend date of this dividend is Thursday, January 26th. Prospect Capital’s payout ratio is presently 112.50%.
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.
- Get a free copy of the StockNews.com research report on Prospect Capital (PSEC)
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