Edge Financial Advisors LLC Makes New Investment in Prospect Capital Co. (NASDAQ:PSEC)

Edge Financial Advisors LLC purchased a new stake in shares of Prospect Capital Co. (NASDAQ:PSEC) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,000 shares of the financial services provider’s stock, valued at approximately $55,000.

A number of other institutional investors have also modified their holdings of the company. Quadrature Capital Ltd acquired a new position in Prospect Capital during the 4th quarter valued at about $888,000. DNB Asset Management AS raised its position in shares of Prospect Capital by 19.8% in the 4th quarter. DNB Asset Management AS now owns 254,115 shares of the financial services provider’s stock valued at $1,522,000 after purchasing an additional 42,005 shares during the last quarter. Private Trust Co. NA boosted its stake in Prospect Capital by 54.3% in the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 2,722 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Prospect Capital by 27.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 464,374 shares of the financial services provider’s stock worth $2,809,000 after purchasing an additional 100,982 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in Prospect Capital by 3.8% during the 4th quarter. Advisory Services Network LLC now owns 124,811 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 4,558 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PSEC shares. StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. Wells Fargo & Company decreased their price objective on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, May 16th.

Prospect Capital Trading Down 0.4 %

Shares of PSEC stock traded down $0.02 on Friday, hitting $5.49. 373,856 shares of the stock traded hands, compared to its average volume of 1,876,308. Prospect Capital Co. has a twelve month low of $5.03 and a twelve month high of $6.69. The stock has a market capitalization of $2.29 billion, a PE ratio of 16.21 and a beta of 1.01. The firm’s 50-day moving average price is $5.52 and its two-hundred day moving average price is $5.66. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $202.22 million for the quarter, compared to the consensus estimate of $214.70 million. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%.

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 28th will be given a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.72 annualized dividend and a yield of 13.11%. Prospect Capital’s dividend payout ratio is presently 211.76%.

Insider Activity at Prospect Capital

In other news, CFO Dask Kristin Lea Van bought 3,330 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average cost of $22.50 per share, for a total transaction of $74,925.00. Following the completion of the purchase, the chief financial officer now owns 4,539 shares of the company’s stock, valued at $102,127.50. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 26.69% of the stock is currently owned by company insiders.

Prospect Capital 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.