Lindbrook Capital LLC Buys 2,106 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Posted by Defense World Staff on Jul 16th, 2023

Lindbrook Capital LLC increased its stake in Prospect Capital Co. (NASDAQ:PSEC – Free Report) by 78.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,783 shares of the financial services provider’s stock after acquiring an additional 2,106 shares during the quarter. Lindbrook Capital LLC’s holdings in Prospect Capital were worth $33,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PSEC. JPMorgan Chase & Co. increased its stake in shares of Prospect Capital by 548.2% in the 1st quarter. JPMorgan Chase & Co. now owns 94,483 shares of the financial services provider’s stock valued at $782,000 after acquiring an additional 79,907 shares in the last quarter. Doyle Wealth Management bought a new stake in shares of Prospect Capital in the 1st quarter valued at $116,000. Merit Financial Group LLC bought a new stake in shares of Prospect Capital in the 1st quarter valued at $714,000. Northern Trust Corp increased its stake in shares of Prospect Capital by 100.7% in the 1st quarter. Northern Trust Corp now owns 300,640 shares of the financial services provider’s stock valued at $2,489,000 after acquiring an additional 150,857 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Prospect Capital by 5.0% in the 1st quarter. Guggenheim Capital LLC now owns 38,212 shares of the financial services provider’s stock valued at $316,000 after acquiring an additional 1,825 shares in the last quarter. Institutional investors own 7.53% of the company’s stock.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $6.42 on Friday. The firm has a market capitalization of $2.58 billion, a PE ratio of -12.84 and a beta of 1.00. The firm has a fifty day simple moving average of $6.27 and a two-hundred day simple moving average of $6.82. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.65. Prospect Capital Co. has a 12 month low of $5.92 and a 12 month high of $8.19.

Prospect Capital (NASDAQ:PSEC – Get Free Report) last posted its earnings results on Tuesday, May 9th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Prospect Capital had a negative net margin of 21.66% and a positive return on equity of 11.02%. The firm had revenue of $215.12 million during the quarter, compared to analyst estimates of $225.04 million. Analysts forecast that Prospect Capital Co. will post 0.86 EPS for the current fiscal year.

Prospect Capital Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, July 20th. Stockholders of record on Wednesday, June 28th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, June 27th. This represents a dividend yield of 11.61%. Prospect Capital’s payout ratio is -144.00%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. TheStreet lowered shares of Prospect Capital from a “b-” rating to a “c” rating in a research note on Friday, May 19th. StockNews.com assumed coverage on shares of Prospect Capital in a research note on Thursday, May 18th. They set a “sell” rating for the company.

Insider Transactions at Prospect Capital

In other news, CEO John F. Barry bought 100,000 shares of Prospect Capital stock in a transaction dated Thursday, May 11th. The stock was purchased at an average price of $6.28 per share, for a total transaction of $628,000.00. Following the purchase, the chief executive officer now directly owns 72,599,542 shares in the company, valued at approximately $455,925,123.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 27.44% of the company’s stock.

About Prospect Capital

(Free Report)

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.