370,075 Shares in Prospect Capital Corporation $PSEC Acquired by Caxton Associates LLP

Caxton Associates LLP acquired a new position in shares of Prospect Capital Corporation (NASDAQ:PSEC) in the first quarter, Holdings Channel.com reports. The institutional investor acquired 370,075 shares of the financial services provider’s stock, valued at approximately $1,517,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Thomas J. Herzfeld Advisors Inc. boosted its position in shares of Prospect Capital by 26.6% during the 1st quarter. Thomas J. Herzfeld Advisors Inc. now owns 2,315,582 shares of the financial services provider’s stock worth $9,494,000 after purchasing an additional 487,171 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Prospect Capital by 24.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,181,787 shares of the financial services provider’s stock worth $4,845,000 after purchasing an additional 235,139 shares during the period. Trexquant Investment LP boosted its position in shares of Prospect Capital by 176.1% during the 1st quarter. Trexquant Investment LP now owns 915,452 shares of the financial services provider’s stock worth $3,753,000 after purchasing an additional 583,844 shares during the period. Two Sigma Investments LP boosted its position in shares of Prospect Capital by 115.9% during the 4th quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 367,634 shares during the period. Finally, PFG Investments LLC boosted its position in shares of Prospect Capital by 3,430.6% during the 1st quarter. PFG Investments LLC now owns 624,419 shares of the financial services provider’s stock worth $2,560,000 after purchasing an additional 606,733 shares during the period. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Insider Buying and Selling at Prospect Capital

In other news, CEO John F. Barry acquired 319,000 shares of Prospect Capital stock in a transaction dated Monday, June 23rd. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $1,008,040.00. Following the acquisition, the chief executive officer owned 83,585,026 shares of the company’s stock, valued at $264,128,682.16. This trade represents a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 28.25% of the company’s stock.

Prospect Capital Price Performance

Prospect Capital stock opened at $2.84 on Wednesday. The firm has a market cap of $1.31 billion, a PE ratio of -2.12 and a beta of 0.85. Prospect Capital Corporation has a 52-week low of $2.73 and a 52-week high of $5.57. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.70. The company’s 50 day moving average is $3.08 and its two-hundred day moving average is $3.48.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $166.95 million for the quarter, compared to analyst estimates of $167.08 million. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%.

Prospect Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be issued a $0.045 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 19.0%. The ex-dividend date is Wednesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is presently -40.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PSEC shares. Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Thursday, August 28th. Wall Street Zen lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell” and a consensus price target of $2.50.

About Prospect Capital

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.