Tower Research Capital LLC TRC has significantly increased its position in Prospect Capital Co. during the first quarter of this year, according to the company’s latest filing with the Securities and Exchange Commission (SEC). The financial services provider’s holdings in Prospect Capital saw a remarkable growth of 467.6%, with the fund acquiring an additional 16,994 shares, resulting in a total of 20,628 shares owned. At the end of the reporting period, Tower Research Capital LLC TRC’s stake in Prospect Capital was valued at $144,000.
Prospect Capital Corporation is categorized as a business development company, focusing on various financing aspects such as middle market lending, mature investments, mezzanine finance, and leveraged buyouts among others. The company offers financial solutions for different stages of businesses including emerging growth companies and those requiring refinancing or acquisitions.
In addition to its core services, Prospect Capital also caters to recapitalizations and provides capital for turnaround situations. The company is well-versed in offering growth capital for development purposes and making investments towards capital expenditures. Subordinated debt tranches of collateralized loan obligations are also part of their expertise along with cash flow term loans and bridge transactions related to market place lending.
The growth of Tower Research Capital LLC TRC’s position in Prospect Capital reflects its confidence in the financial services provider’s performance and potential for future success. This move showcases Tower Research Capital LLC TRC’s strategic investment approach as it seeks to capitalize on opportunities within the financial sector.
It is important to note that this information is based on data provided by Tower Research Capital LLC TRC’s recent Form 13F filing with the SEC, which primarily captures holdings up until the mentioned reporting period. As stock positions can change dynamically based on market conditions and investment strategies, it is advisable to consult updated reports or seek professional advice before making any investment decisions.
Overall, Tower Research Capital LLC TRC’s significant increase in its holdings of Prospect Capital Co. highlights the appeal of the financial services provider and their expertise in catering to a diverse range of financing needs. This development brings attention to Prospect Capital’s position within the market, potentially drawing interest from other investors and highlighting the company’s ability to generate value for its shareholders.
Investors and industry observers may want to keep a close eye on upcoming reports and announcements from Prospect Capital Corporation, as they may provide further insights into the company’s performance, growth prospects, and potential investment opportunities.
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Changing Investor Landscape and Recent Analyst Ratings for Prospect Capital Corporation
August 31, 2023 – Prospect Capital Corporation, a business development company specializing in various financial services, has seen recent changes in its investor landscape. Bank of New York Mellon Corp has raised its holdings in Prospect Capital by 11.9% during the first quarter of this year, bringing its total shares to 40,767 with a value of $284,000 after purchasing an additional 4,339 shares. Equitable Trust Co. also made a move by acquiring a new stake worth $77,000 during the same period.
Global Retirement Partners LLC followed suit and increased its holdings in Prospect Capital by 56.7% in the first quarter as well. The financial services provider now owns 6,267 shares of Prospect Capital’s stock valued at $39,000 after purchasing an additional 2,267 shares.
Emerald Mutual Fund Advisers Trust further expanded their portfolio by acquiring a new stake worth approximately $149,000 in the first quarter. KBC Group NV took the lead among institutional investors with a massive increase of 4,107.1% in its holdings of Prospect Capital during the first quarter. The group now holds 113,593 shares valued at $791,000 after buying an additional 110,893 shares.
These recent changes have resulted in hedge funds and other institutional investors owning approximately 8.09% of Prospect Capital’s stock.
Several analysts have recently shared their thoughts on PSEC (Prospect Capital Corporation) shares. On May 19th, TheStreet downgraded their rating from “b-” to “c.” Meanwhile, StockNews.com upgraded their rating from “sell” to “hold” in a research report published on Monday.
Prospect Capital Corporation operates as a business development company with a focus on providing various financial services such as middle market finance and subordinated debt tranches of collateralized loan obligations. Their expertise includes areas like mature markets, mezzanine finance, leveraged buyouts, recapitalizations, and growth capital. They also offer services for acquisitions, refinancing, turnaround management, development projects, and bridge transactions.
On Thursday, PSEC opened at $6.07 with a market cap of $2.44 billion. The firm has a P/E ratio of -12.14 and a beta of 1.00. Its 50-day moving average stands at $6.30 while the 200-day moving average rests at $6.58. Prospect Capital’s debt-to-equity ratio is 0.65, indicating a moderate level of debt compared to equity. The company has a quick ratio and current ratio of both standing at 0.79.
Prospect Capital recently announced the payment of dividends on Thursday, July 20th to its eligible investors as of Wednesday, June 28th. Shareholders received a dividend amounting to $0.06 per share on this occasion.
