Joseph P. Lucia & Associates LLC Takes $9.69 Million Position in Prospect Capital Co. (PSEC)

Joseph P. Lucia & Associates LLC purchased a new position in Prospect Capital Co. (NASDAQ:PSEC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,822 shares of the financial services provider’s stock, valued at approximately $9,685,000.

Other institutional investors also recently modified their holdings of the company. LSV Asset Management increased its position in shares of Prospect Capital by 5.4% during the fourth quarter. LSV Asset Management now owns 5,613,365 shares of the financial services provider’s stock valued at $35,420,000 after acquiring an additional 289,600 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Prospect Capital by 3.8% during the fourth quarter. Van ECK Associates Corp now owns 2,425,858 shares of the financial services provider’s stock valued at $15,307,000 after acquiring an additional 89,130 shares during the last quarter. Bank of Montreal Can increased its position in shares of Prospect Capital by 3,775.8% during the first quarter. Bank of Montreal Can now owns 1,763,500 shares of the financial services provider’s stock valued at $11,497,000 after acquiring an additional 1,718,000 shares during the last quarter. Legal & General Group Plc increased its position in shares of Prospect Capital by 16.1% during the fourth quarter. Legal & General Group Plc now owns 1,685,044 shares of the financial services provider’s stock valued at $10,675,000 after acquiring an additional 234,288 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its position in shares of Prospect Capital by 1.7% during the first quarter. Mckinley Capital Management LLC Delaware now owns 842,248 shares of the financial services provider’s stock valued at $5,491,000 after acquiring an additional 14,038 shares during the last quarter. 12.22% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on PSEC. BidaskClub raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. National Securities reaffirmed a “sell” rating and set a $4.00 price target on shares of Prospect Capital in a research report on Monday, May 13th. ValuEngine downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, Zacks Investment Research downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company has a consensus rating of “Sell” and an average price target of $6.00.

Shares of PSEC traded down $0.08 during trading hours on Wednesday, hitting $6.70. The company had a trading volume of 2,216,800 shares, compared to its average volume of 1,683,460. Prospect Capital Co. has a 52-week low of $5.70 and a 52-week high of $7.60. The company has a market cap of $2.48 billion, a P/E ratio of 8.48 and a beta of 0.69. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.21 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. The business had revenue of $171.10 million for the quarter, compared to analysts’ expectations of $173.48 million. Prospect Capital had a return on equity of 9.58% and a net margin of 30.82%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. Equities research analysts forecast that Prospect Capital Co. will post 0.86 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be given a $0.06 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.72 annualized dividend and a yield of 10.75%. Prospect Capital’s dividend payout ratio (DPR) is presently 91.14%.

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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.

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

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