Family Wealth Partners LLC Invests $74,000 in Prospect Capital Co. (NASDAQ:PSEC)

by · The Cerbat Gem

Family Wealth Partners LLC purchased a new stake in Prospect Capital Co. (NASDAQ:PSEC – Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 13,888 shares of the financial services provider’s stock, valued at approximately $74,000.

A number of other large investors have also recently bought and sold shares of the stock. Rothschild Investment LLC acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at $27,000. Headlands Technologies LLC raised its position in Prospect Capital by 2,266.9% in the 1st quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 7,254 shares during the last quarter. Edge Financial Advisors LLC acquired a new position in Prospect Capital in the first quarter worth $55,000. Cutter & CO Brokerage Inc. bought a new stake in shares of Prospect Capital during the first quarter worth $65,000. Finally, Empowered Funds LLC bought a new position in shares of Prospect Capital in the first quarter valued at about $73,000. 9.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSEC has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report 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.

Read Our Latest Research Report on Prospect Capital

Prospect Capital Price Performance

Shares of PSEC stock opened at $5.08 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. Prospect Capital Co. has a 12 month low of $4.69 and a 12 month high of $6.30. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 14.51 and a beta of 1.00. The stock has a 50-day moving average price of $5.18 and a 200 day moving average price of $5.39.

Prospect Capital (NASDAQ:PSEC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The business had revenue of $212.26 million during the quarter. During the same period last year, the firm earned $0.23 earnings per share.

Prospect Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 14.17%. The ex-dividend date is Tuesday, October 29th. Prospect Capital’s payout ratio is presently 205.71%.

Prospect Capital Company Profile

(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.

Featured Stories

Want to see what other hedge funds are holding PSEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Prospect Capital Co. (NASDAQ:PSEC – Free Report).