Sage Capital Advisors llc grew its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,126 shares of the financial services provider’s stock after acquiring an additional 3,184 shares during the quarter. Sage Capital Advisors llc’s holdings in Prospect Capital were worth $233,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in PSEC. Point72 Asset Management L.P. acquired a new position in Prospect Capital in the 2nd quarter valued at $36,000. First National Bank of Omaha acquired a new position in Prospect Capital in the third quarter valued at about $66,000. Usca Ria LLC acquired a new position in Prospect Capital in the third quarter valued at about $68,000. KG&L Capital Management LLC raised its stake in Prospect Capital by 16.4% in the third quarter. KG&L Capital Management LLC now owns 13,664 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 1,929 shares in the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in Prospect Capital during the third quarter worth about $98,000. Institutional investors and hedge funds own 12.62% of the company’s stock.
PSEC has been the topic of several recent analyst reports. BidaskClub lowered shares of Prospect Capital from a “sell” rating to a “strong sell” rating in a report on Wednesday, January 8th. ValuEngine raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 27th. Finally, Zacks Investment Research raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company has a consensus rating of “Sell” and a consensus target price of $5.00.
Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.14). The company had revenue of $161.88 million for the quarter, compared to the consensus estimate of $162.98 million. Prospect Capital had a net margin of 11.49% and a return on equity of 9.05%. During the same period last year, the firm posted $0.23 earnings per share. Sell-side analysts predict that Prospect Capital Co. will post 0.72 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Thursday, January 23rd. Shareholders of record on Thursday, January 2nd will be given a $0.06 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $0.72 dividend on an annualized basis and a yield of 10.99%. Prospect Capital’s dividend payout ratio is currently 84.71%.
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.
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