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Cypress Wealth Advisors LLC Holds Stake in Prospect Capital Co. (PSEC)

   Cypress Wealth Advisors LLC held its stake in Prospect Capital Co. (NASDAQ:PSEC) during the first quarter,Holdings Channel reports. The fund owned 33,000 shares of the company’s stock at the end of the first quarter. Cypress Wealth Advisors LLC’s holdings in Prospect Capital were worth $240,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PSEC. Allegis Investment Advisors LLC increased its stake in Prospect Capital by 0.8% in the first quarter. Allegis Investment Advisors LLC now owns 41,732 shares of the company’s stock worth $303,000 after buying an additional 311 shares during the period. Shufro Rose & Co. LLC increased its stake in Prospect Capital by 1.0% in the first quarter. Shufro Rose & Co. LLC now owns 202,800 shares of the company’s stock worth $1,474,000 after buying an additional 2,100 shares during the period. United Capital Financial Advisers LLC increased its stake in Prospect Capital by 1.1% in the fourth quarter. United Capital Financial Advisers LLC now owns 366,398 shares of the company’s stock worth $2,557,000 after buying an additional 4,042 shares during the period. Trust & Fiduciary Management Services Inc. increased its stake in Prospect Capital by 1.3% in the fourth quarter. Trust & Fiduciary Management Services Inc. now owns 416,550 shares of the company’s stock worth $2,908,000 after buying an additional 5,143 shares during the period. Finally, CIBC World Markets increased its stake in Prospect Capital by 4.2% in the fourth quarter. CIBC World Markets now owns 178,381 shares of the company’s stock worth $1,245,000 after buying an additional 7,219 shares during the period.
Shares of Prospect Capital Co. (NASDAQ:PSEC) opened at 7.79 on Thursday. Prospect Capital Co. has a one year low of $5.21 and a one year high of $8.09. The stock’s 50 day moving average is $7.58 and its 200-day moving average is $7.04. The company has a market cap of $2.78 billion and a P/E ratio of 26.96.
Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Tuesday, May 10th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by $0.01. The business earned $189.50 million during the quarter, compared to the consensus estimate of $196.02 million. Prospect Capital’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. Equities research analysts forecast that Prospect Capital Co. will post $1.03 earnings per share for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, August 31st will be paid a $0.0833 dividend. The ex-dividend date is Monday, August 29th. This represents a $1.00 annualized dividend and a yield of 12.84%.
A number of research firms have weighed in on PSEC. Vetr downgraded Prospect Capital from a “buy” rating to a “hold” rating and set a $7.97 target price for the company. in a research report on Thursday, June 2nd. Deutsche Bank downgraded Prospect Capital from a “buy” rating to a “hold” rating and cut their target price for the stock from $8.50 to $7.00 in a research report on Thursday, April 28th. National Securities restated a “neutral” rating and issued a $7.00 target price on shares of Prospect Capital in a research report on Thursday, May 12th. Wells Fargo restated a “sell” rating and issued a $5.25 target price on shares of Prospect Capital in a research report on Thursday, April 7th. Finally, Zacks Investment Research upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, May 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Prospect Capital currently has an average rating of “Hold” and a consensus price target of $7.77.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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