On May 2, 2023 at 09:59:39 ET an unusually large $159.84K block of Put contracts in Prospect Capital (PSEC) was bought, with a strike price of $6.00 / share, expiring in 108 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.37 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in PSEC options.
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 267 funds or institutions reporting positions in Prospect Capital. This is an increase of 20 owner(s) or 8.10% in the last quarter. Average portfolio weight of all funds dedicated to PSEC is 0.11%, a decrease of 15.40%. Total shares owned by institutions increased in the last three months by 7.88% to 34,884K shares. 
The put/call ratio of PSEC is 1.19, indicating a bearish outlook.
Analyst Price Forecast Suggests 11.00% Downside
As of April 24, 2023, the average one-year price target for Prospect Capital is $5.86. The forecasts range from a low of $5.81 to a high of $6.04. The average price target represents a decrease of 11.00% from its latest reported closing price of $6.59.
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?
Bnp Paribas Arbitrage holds 1K shares. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Raymond James & Associates holds 430K shares. In it's prior filing, the firm reported owning 413K shares, representing an increase of 4.09%. The firm decreased its portfolio allocation in PSEC by 1.81% over the last quarter.
Janney Montgomery Scott holds 18K shares. In it's prior filing, the firm reported owning 16K shares, representing an increase of 14.00%. The firm increased its portfolio allocation in PSEC by 120,779.95% over the last quarter.
Northwestern Mutual Wealth Management holds 1K shares. In it's prior filing, the firm reported owning 1K shares, representing a decrease of 0.40%. The firm decreased its portfolio allocation in PSEC by 5.08% over the last quarter.
Cowen Prime Advisors holds 1K shares.
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 $6.59 / share, the stock's dividend yield is 10.93%. 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 0.15 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 story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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