MWA Asset Management Acquires Shares of 53,000 Prospect Capital Co. (NASDAQ:PSEC)

MWA Asset Management bought a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) during the 3rd quarter, HoldingsChannel reports. The fund bought 53,000 shares of the financial services provider’s stock, valued at approximately $53,000.

A number of other hedge funds also recently modified their holdings of PSEC. Rothschild Investment LLC acquired a new stake in Prospect Capital during the second quarter worth about $27,000. Global Assets Advisory LLC acquired a new stake in shares of Prospect Capital during the 3rd quarter worth approximately $64,000. Family Wealth Partners LLC acquired a new stake in shares of Prospect Capital during the 3rd quarter worth approximately $74,000. AE Wealth Management LLC bought a new position in Prospect Capital in the second quarter valued at approximately $80,000. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Prospect Capital in the 1st quarter valued at $91,000. Institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSEC. Wells Fargo & Company reduced their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th.

Prospect Capital Trading Up 2.9 %

NASDAQ PSEC opened at $4.64 on Wednesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of -17.85 and a beta of 1.00. Prospect Capital Co. has a twelve month low of $4.15 and a twelve month high of $6.30. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $5.15 and its 200 day moving average is $5.31.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The firm had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be given a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 11.64%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is currently -276.92%.

Insider Activity

In related news, CEO John F. Barry purchased 205,900 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was bought at an average price of $4.40 per share, with a total value of $905,960.00. Following the completion of the purchase, the chief executive officer now owns 72,612,839 shares in the company, valued at approximately $319,496,491.60. This represents a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 27.10% of the company’s stock.

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.