Kathmere Capital Management LLC Increases Stock Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Kathmere Capital Management LLC boosted its position in Prospect Capital Co. (NASDAQ:PSEC) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,462 shares of the financial services provider’s stock after purchasing an additional 11,495 shares during the period. Kathmere Capital Management LLC’s holdings in Prospect Capital were worth $384,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC purchased a new position in Prospect Capital in the second quarter worth about $27,000. Headlands Technologies LLC raised its stake in shares of Prospect Capital by 2,266.9% in the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after buying an additional 7,254 shares during the period. Edge Financial Advisors LLC bought a new position in shares of Prospect Capital in the first quarter worth about $55,000. Cutter & CO Brokerage Inc. bought a new position in shares of Prospect Capital in the first quarter worth about $65,000. Finally, Empowered Funds LLC bought a new position in shares of Prospect Capital in the first quarter worth about $73,000. 9.06% of the stock is owned by hedge funds and other institutional investors.

Prospect Capital Stock Up 0.6 %

Shares of PSEC opened at $5.31 on Friday. The business’s 50 day moving average is $5.24 and its 200 day moving average is $5.41. The company has a market capitalization of $2.30 billion, a PE ratio of 15.62 and a beta of 1.00. Prospect Capital Co. has a 12-month low of $4.69 and a 12-month high of $6.30. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.07. The company had revenue of $212.26 million for the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same period last year, the business posted $0.23 EPS.

Prospect Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 13.56%. The ex-dividend date is Tuesday, October 29th. Prospect Capital’s payout ratio is 211.76%.

Analyst Ratings Changes

Several research analysts have recently commented on PSEC shares. Wells Fargo & Company decreased their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th. StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

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.