Prospect Capital Corporation (PSEC) Short Interest Down 6.5% in October

Prospect Capital Corporation (NASDAQ:PSEC) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 29,432,558 shares, a drop of 6.5% from the October 13th total of 31,487,994 shares. Based on an average daily volume of 2,962,674 shares, the short-interest ratio is presently 9.9 days. Currently, 9.1% of the shares of the company are sold short.

Shares of Prospect Capital Corporation (PSEC) opened at $6.65 on Friday. Prospect Capital Corporation has a 12-month low of $5.51 and a 12-month high of $9.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market cap of $2,400.00, a P/E ratio of 7.60 and a beta of 0.51.

Prospect Capital Corporation (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Prospect Capital Corporation had a net margin of 27.00% and a return on equity of 8.63%. The company had revenue of $158.58 million for the quarter, compared to analyst estimates of $161.00 million. During the same quarter in the previous year, the business posted $0.22 earnings per share. Prospect Capital Corporation’s revenue was down 11.8% on a year-over-year basis. sell-side analysts anticipate that Prospect Capital Corporation will post 0.72 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.83%. Prospect Capital Corporation’s payout ratio is 141.18%.

A number of brokerages recently commented on PSEC. Zacks Investment Research upgraded shares of Prospect Capital Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Prospect Capital Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 15th. National Securities reduced their price objective on shares of Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, August 30th. Raymond James Financial, Inc. upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, UBS AG upgraded shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $6.17.

In other news, CFO Brian H. Oswald acquired 50,000 shares of Prospect Capital Corporation stock in a transaction that occurred on Friday, September 1st. The stock was purchased at an average price 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 $3,320,400.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian H. Oswald acquired 35,000 shares of Prospect Capital Corporation stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $5.75 per share, with a total value of $201,250.00. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 216,000 shares of company stock valued at $1,299,150. 7.10% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Atria Investments LLC acquired a new stake in shares of Prospect Capital Corporation during the 2nd quarter valued at approximately $104,000. Trexquant Investment LP acquired a new stake in shares of Prospect Capital Corporation during the 3rd quarter valued at approximately $108,000. Jane Street Group LLC acquired a new position in shares of Prospect Capital Corporation during the 3rd quarter worth approximately $127,000. Nwam LLC raised its position in shares of Prospect Capital Corporation by 19.1% during the 2nd quarter. Nwam LLC now owns 16,825 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Regal Investment Advisors LLC raised its position in shares of Prospect Capital Corporation by 19.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,720 shares during the last quarter. Institutional investors own 15.07% of the company’s stock.

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Prospect Capital Corporation Company 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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