Paragon Capital Management Ltd acquired a new position in Prospect Capital Co. (NASDAQ:PSEC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,331 shares of the financial services provider’s stock, valued at approximately $286,000.
Several other hedge funds have also added to or reduced their stakes in the company. Jane Street Group LLC purchased a new position in shares of Prospect Capital in the third quarter worth about $277,000. Mackenzie Financial Corp lifted its holdings in Prospect Capital by 73.1% in the third quarter. Mackenzie Financial Corp now owns 320,869 shares of the financial services provider’s stock worth $2,352,000 after purchasing an additional 135,529 shares during the period. JNBA Financial Advisors bought a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $513,000. Alpha Windward LLC acquired a new position in Prospect Capital during the fourth quarter worth $443,000. Finally, First Republic Investment Management Inc. boosted its holdings in Prospect Capital by 9.7% in the third quarter. First Republic Investment Management Inc. now owns 540,280 shares of the financial services provider’s stock valued at $3,960,000 after acquiring an additional 47,956 shares during the last quarter. 14.12% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on the company. National Securities reissued a “sell” rating and set a $4.00 price target on shares of Prospect Capital in a report on Monday, November 12th. BidaskClub downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Tuesday, December 18th. Zacks Investment Research upgraded shares of Prospect Capital from a “hold” rating to a “strong-buy” rating and set a $8.00 target price for the company in a research note on Thursday, November 15th. ValuEngine downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Barclays downgraded shares of Prospect Capital from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $7.00 to $6.00 in a research note on Tuesday, January 22nd. Four analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Prospect Capital presently has a consensus rating of “Sell” and an average price target of $6.00.
Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, February 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Prospect Capital had a net margin of 25.89% and a return on equity of 9.37%. The business had revenue of $187.88 million during the quarter, compared to analyst estimates of $182.09 million. During the same quarter in the previous year, the firm earned $0.20 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. As a group, research analysts expect that Prospect Capital Co. will post 0.95 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, March 21st. Shareholders of record on Thursday, February 28th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $0.72 dividend on an annualized basis and a yield of 11.09%. Prospect Capital’s payout ratio is currently 91.14%.
In other Prospect Capital news, COO M Grier Eliasek acquired 50,000 shares of the business’s stock in a transaction dated Thursday, December 20th. The shares were acquired at an average price of $5.81 per share, for a total transaction of $290,500.00. Following the acquisition, the chief operating officer now directly owns 1,204,196 shares of the company’s stock, valued at approximately $6,996,378.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Barry purchased 1,000,000 shares of the stock in a transaction on Friday, December 21st. The shares were bought at an average cost of $5.87 per share, for a total transaction of $5,870,000.00. Following the transaction, the chief executive officer now directly owns 37,288,278 shares in the company, valued at $218,882,191.86. The disclosure for this purchase can be found here. Insiders bought 2,061,206 shares of company stock valued at $12,397,447 over the last three months. 10.20% of the stock is owned by company insiders.
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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.
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