Trustmark National Bank Trust Department continued to hold its position in shares of Prospect Capital Corporation (NASDAQ:PSEC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 357,341 shares of the financial services provider’s stock at the end of the second quarter. Trustmark National Bank Trust Department’s holdings in Prospect Capital Corporation were worth $2,902,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Green Square Capital LLC increased its holdings in Prospect Capital Corporation by 3.8% in the 1st quarter. Green Square Capital LLC now owns 42,777 shares of the financial services provider’s stock valued at $390,000 after buying an additional 1,577 shares during the period. Caxton Associates LP bought a new position in Prospect Capital Corporation in the 1st quarter valued at about $539,000. Legal & General Group Plc increased its holdings in Prospect Capital Corporation by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock valued at $7,816,000 after buying an additional 112,354 shares during the period. Karp Capital Management Corp bought a new position in Prospect Capital Corporation in the 1st quarter valued at about $506,000. Finally, Gotham Asset Management LLC bought a new position in Prospect Capital Corporation in the 1st quarter valued at about $481,000. 15.20% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CFO Brian H. Oswald purchased 50,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were purchased at an average cost of $6.73 per share, for a total transaction of $336,500.00. Following the completion of the transaction, the chief financial officer now directly owns 493,373 shares in the company, valued at approximately $3,320,400.29. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 7.10% of the company’s stock.
Prospect Capital Corporation (NASDAQ:PSEC) traded up 0.677% during midday trading on Tuesday, hitting $6.695. 1,179,420 shares of the stock were exchanged. The company’s 50 day moving average is $7.33 and its 200 day moving average is $8.29. Prospect Capital Corporation has a 1-year low of $6.54 and a 1-year high of $9.58.
Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings results on Monday, August 28th. The financial services provider reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). Prospect Capital Corporation had a net margin of 36.08% and a return on equity of 8.98%. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $177.21 million. During the same quarter in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was down 13.6% on a year-over-year basis. Analysts expect that Prospect Capital Corporation will post $0.78 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.83%. The ex-dividend date of this dividend is Monday, October 30th. Prospect Capital Corporation’s dividend payout ratio is presently 142.86%.
Several equities analysts have commented on the stock. BidaskClub lowered shares of Prospect Capital Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. BMO Capital Markets reissued a “hold” rating and issued a $7.00 target price on shares of Prospect Capital Corporation in a report on Thursday, June 1st. Zacks Investment Research raised shares of Prospect Capital Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. National Securities decreased their target price on shares of Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating on the stock in a report on Wednesday, August 30th. Finally, UBS AG raised shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $8.04.
Prospect Capital Corporation 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.
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