PVG Asset Management Corp grew its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 99.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 213,308 shares of the financial services provider’s stock after buying an additional 106,180 shares during the quarter. PVG Asset Management Corp owned 0.06% of Prospect Capital worth $1,438,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in shares of Prospect Capital by 13.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,921 shares of the financial services provider’s stock valued at $235,000 after buying an additional 3,437 shares in the last quarter. Suntrust Banks Inc. raised its stake in shares of Prospect Capital by 9.5% in the 4th quarter. Suntrust Banks Inc. now owns 88,800 shares of the financial services provider’s stock valued at $598,000 after buying an additional 7,679 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Prospect Capital by 33.6% in the 4th quarter. Global X Management Co. LLC now owns 35,334 shares of the financial services provider’s stock valued at $238,000 after buying an additional 8,878 shares in the last quarter. Archford Capital Strategies LLC raised its stake in shares of Prospect Capital by 16.3% in the 3rd quarter. Archford Capital Strategies LLC now owns 68,399 shares of the financial services provider’s stock valued at $460,000 after buying an additional 9,569 shares in the last quarter. Finally, Global X MANAGEMENT CO LLC raised its stake in shares of Prospect Capital by 70.9% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 26,456 shares of the financial services provider’s stock valued at $178,000 after buying an additional 10,977 shares in the last quarter. Institutional investors own 14.17% of the company’s stock.
In other news, insider John F. Barry bought 17,200 shares of the stock in a transaction dated Friday, March 2nd. The shares were acquired at an average price of $6.50 per share, with a total value of $111,800.00. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider M Grier Eliasek bought 10,000 shares of the stock in a transaction dated Wednesday, December 20th. The stock was purchased at an average cost of $6.94 per share, for a total transaction of $69,400.00. Following the acquisition, the insider now owns 1,182,196 shares in the company, valued at approximately $8,204,440.24. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,995,954 shares of company stock worth $13,925,568. 7.10% of the stock is owned by insiders.
Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. The business had revenue of $162.40 million for the quarter, compared to analyst estimates of $153.94 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 11.5% compared to the same quarter last year. sell-side analysts predict that Prospect Capital Co. will post 0.74 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Thursday, April 19th. Stockholders of record on Friday, March 30th will be issued a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 11.04%. The ex-dividend date of this dividend is Wednesday, March 28th. Prospect Capital’s payout ratio is 128.57%.
A number of equities analysts have recently issued reports on the stock. BidaskClub cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. National Securities restated a “sell” rating and issued a $4.00 price objective on shares of Prospect Capital in a research note on Monday, February 12th. Zacks Investment Research lowered shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, January 20th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $7.00 target price on shares of Prospect Capital in a report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.81.
ILLEGAL ACTIVITY WARNING: “PVG Asset Management Corp Acquires 106,180 Shares of Prospect Capital Co. (PSEC)” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2018/03/19/pvg-asset-management-corp-acquires-106180-shares-of-prospect-capital-co-psec.html.
Prospect Capital 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.
Receive News & Ratings for Prospect Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital and related companies with MarketBeat.com's FREE daily email newsletter.