UBS Group AG Increases Holdings in Prospect Capital Corporation $PSEC

UBS Group AG raised its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 44.5% in the fourth quarter, HoldingsChannel reports. The firm owned 4,989,986 shares of the financial services provider’s stock after buying an additional 1,536,808 shares during the quarter. UBS Group AG’s holdings in Prospect Capital were worth $12,924,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Evergreen Capital Management LLC purchased a new position in shares of Prospect Capital during the fourth quarter valued at approximately $30,000. GraniteShares Advisors LLC bought a new stake in Prospect Capital in the fourth quarter valued at $2,745,000. Farther Finance Advisors LLC boosted its holdings in Prospect Capital by 789.1% in the fourth quarter. Farther Finance Advisors LLC now owns 12,936 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 11,481 shares in the last quarter. Bfsg LLC purchased a new position in Prospect Capital during the 4th quarter valued at $27,000. Finally, Flagship Capital Management Inc. bought a new position in Prospect Capital in the 4th quarter worth $33,000. 9.06% of the stock is currently owned by institutional investors.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $2.18 on Friday. The company’s fifty day moving average price is $2.63 and its 200-day moving average price is $2.69. The stock has a market cap of $1.09 billion, a PE ratio of -5.89 and a beta of 0.82. The company has a current ratio of 0.79, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. Prospect Capital Corporation has a 12 month low of $2.18 and a 12 month high of $3.71.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Prospect Capital had a negative net margin of 10.42% and a positive return on equity of 12.03%. The company had revenue of $150.07 million during the quarter, compared to analyst estimates of $163.23 million.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 27th will be issued a dividend of $0.035 per share. This represents a c) annualized dividend and a dividend yield of 19.3%. The ex-dividend date is Thursday, August 27th. Prospect Capital’s dividend payout ratio (DPR) is presently -145.95%.

Analysts Set New Price Targets

PSEC has been the subject of several research analyst reports. Wall Street Zen cut shares of Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Wells Fargo & Company reduced their price target on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a research note on Tuesday, April 21st. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Prospect Capital has a consensus rating of “Sell” and an average target price of $2.00.

Prospect Capital Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.