PVG Asset Management Corp Buys New Stake in Prospect Capital Corporation (PSEC)

PVG Asset Management Corp bought a new position in shares of Prospect Capital Corporation (NASDAQ:PSEC) during the third quarter, Holdings Channel reports. The institutional investor bought 344,188 shares of the company’s stock, valued at approximately $2,788,000. Prospect Capital Corporation makes up approximately 1.2% of PVG Asset Management Corp’s holdings, making the stock its 20th largest position. PVG Asset Management Corp owned about 0.10% of Prospect Capital Corporation as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSEC. WealthTrust Fairport LLC bought a new stake in shares of Prospect Capital Corporation during the third quarter worth about $112,000. Paragon Capital Management Ltd increased its stake in shares of Prospect Capital Corporation by 8.1% in the third quarter. Paragon Capital Management Ltd now owns 14,490 shares of the company’s stock worth $117,000 after buying an additional 1,080 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Prospect Capital Corporation by 0.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,263 shares of the company’s stock worth $124,000 after buying an additional 78 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Prospect Capital Corporation by 33.1% in the third quarter. Acrospire Investment Management LLC now owns 17,300 shares of the company’s stock worth $140,000 after buying an additional 4,300 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its stake in shares of Prospect Capital Corporation by 1.2% in the third quarter. Arete Wealth Advisors LLC now owns 20,850 shares of the company’s stock worth $169,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 12.80% of the company’s stock.

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

Shares of Prospect Capital Corporation (NASDAQ:PSEC) opened at 9.10 on Friday. The firm has a 50-day moving average price of $8.60 and a 200-day moving average price of $8.25. Prospect Capital Corporation has a 1-year low of $6.24 and a 1-year high of $9.10.

Prospect Capital Corporation (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.01. Prospect Capital Corporation had a return on equity of 9.96% and a net margin of 47.32%. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, equities analysts expect that Prospect Capital Corporation will post $0.93 earnings per share for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, April 20th. Stockholders of record on Friday, March 31st will be given a $0.0833 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.99%. The ex-dividend date of this dividend is Wednesday, March 29th. Prospect Capital Corporation’s dividend payout ratio (DPR) is presently 101.01%.

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A number of brokerages recently issued reports on PSEC. National Securities restated a “sell” rating and issued a $7.00 price target on shares of Prospect Capital Corporation in a research report on Thursday, November 10th. Zacks Investment Research upgraded Prospect Capital Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, January 19th. TheStreet downgraded Prospect Capital Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. BMO Capital Markets restated a “hold” rating on shares of Prospect Capital Corporation in a research report on Thursday, November 10th. Finally, FBR & Co restated a “buy” rating and issued a $9.00 price target on shares of Prospect Capital Corporation in a research report on Thursday, November 10th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Prospect Capital Corporation has an average rating of “Hold” and an average target price of $7.31.

In other news, CFO Brian H. Oswald purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The stock was purchased at an average cost of $8.18 per share, for a total transaction of $40,900.00. Following the completion of the transaction, the chief financial officer now owns 485,000 shares of the company’s stock, valued at $3,967,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.60% of the stock is currently owned by insiders.

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.

5 Day Chart for NASDAQ:PSEC

Want to see what other hedge funds are holding PSEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prospect Capital Corporation (NASDAQ:PSEC).

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