On April 24, 2023 at 10:00:38 ET an unusually large $77.97K block of Put contracts in Prospect Capital (PSEC) was sold, with a strike price of $7.00 / share, expiring in 25 day(s) (on May 19, 2023).

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 270 funds or institutions reporting positions in Prospect Capital. This is an increase of 23 owner(s) or 9.31% in the last quarter. Average portfolio weight of all funds dedicated to PSEC is 0.11%, a decrease of 10.04%. Total shares owned by institutions increased in the last three months by 9.81% to 35,134K shares. The put/call ratio of PSEC is 1.07, indicating a bearish outlook.

Analyst Price Forecast Suggests 3.49% Downside

As of April 6, 2023, the average one-year price target for Prospect Capital is $6.63. The forecasts range from a low of $6.56 to a high of $6.82. The average price target represents a decrease of 3.49% from its latest reported closing price of $6.87.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Prospect Capital is $916MM, an increase of 17.20%. The projected annual non-GAAP EPS is $0.94.

What are Other Shareholders Doing?

DnB Asset Management AS holds 212K shares. No change in the last quarter.

Strategic Wealth Advisors Group holds 184K shares. In it’s prior filing, the firm reported owning 210K shares, representing a decrease of 14.27%. The firm decreased its portfolio allocation in PSEC by 24.82% over the last quarter.

GraniteShares Advisors holds 87K shares. In it’s prior filing, the firm reported owning 93K shares, representing a decrease of 7.02%. The firm increased its portfolio allocation in PSEC by 7.27% over the last quarter.

Kestra Advisory Services holds 70K shares. In it’s prior filing, the firm reported owning 68K shares, representing an increase of 3.04%. The firm decreased its portfolio allocation in PSEC by 3.47% over the last quarter.

Guggenheim Capital holds 48K shares. In it’s prior filing, the firm reported owning 42K shares, representing an increase of 12.80%. The firm decreased its portfolio allocation in PSEC by 1.24% over the last quarter.

Prospect Capital Declares $0.06 Dividend

On February 8, 2023 the company declared a regular monthly dividend of $0.06 per share ($0.72 annualized). Shareholders of record as of February 24, 2023 received the payment on March 22, 2023. Previously, the company paid $0.06 per share.

At the current share price of $6.87 / share, the stock’s dividend yield is 10.48%. Looking back five years and taking a sample every week, the average dividend yield has been 11.25%, the lowest has been 7.88%, and the highest has been 19.05%. The standard deviation of yields is 2.11 (n=196).

The current dividend yield is 0.37 standard deviations below the historical average.

The company has not increased its dividend in the last three years.

Prospect Capital Background Information
(This description is provided by the company.)

Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses. Prospect’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

See all Prospect Capital regulatory filings.

This article originally appeared on Fintel

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