Aperio Group LLC trimmed its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 27.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 41,384 shares of the financial services provider’s stock after selling 15,864 shares during the quarter. Aperio Group LLC’s holdings in Prospect Capital were worth $278,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Eqis Capital Management Inc. increased its holdings in Prospect Capital by 9.9% in the 3rd quarter. Eqis Capital Management Inc. now owns 119,825 shares of the financial services provider’s stock worth $805,000 after buying an additional 10,777 shares in the last quarter. WFG Advisors LP increased its holdings in Prospect Capital by 4.2% in the 2nd quarter. WFG Advisors LP now owns 371,436 shares of the financial services provider’s stock worth $3,016,000 after buying an additional 14,844 shares in the last quarter. Advisory Services Network LLC increased its holdings in Prospect Capital by 0.6% in the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after buying an additional 105 shares in the last quarter. Verition Fund Management LLC increased its holdings in Prospect Capital by 86.0% in the 2nd quarter. Verition Fund Management LLC now owns 25,520 shares of the financial services provider’s stock worth $207,000 after buying an additional 11,803 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in Prospect Capital in the 2nd quarter worth about $378,000. Institutional investors own 15.18% of the company’s stock.
In related news, insider M Grier Eliasek acquired 65,000 shares of the stock in a transaction dated Friday, November 10th. The shares were purchased at an average cost of $5.65 per share, with a total value of $367,250.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John F. Barry acquired 995,883 shares of the stock in a transaction dated Monday, November 20th. The shares were bought at an average cost of $6.98 per share, for a total transaction of $6,951,263.34. Following the completion of the transaction, the insider now owns 25,219,413 shares in the company, valued at $176,031,502.74. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,211,883 shares of company stock valued at $8,250,413. Corporate insiders own 7.10% of the company’s stock.
Shares of Prospect Capital Corporation (PSEC) opened at $6.80 on Monday. The stock has a market capitalization of $2,450.68, a PE ratio of 8.40 and a beta of 0.51. Prospect Capital Corporation has a 52 week low of $5.51 and a 52 week high of $9.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63.
Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The firm had revenue of $158.58 million for the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 earnings per share. equities research analysts anticipate that Prospect Capital Corporation will post 0.72 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.59%. Prospect Capital’s dividend payout ratio is currently 144.00%.
Several research firms recently commented on PSEC. BidaskClub downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Raymond James Financial, Inc. upgraded Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. National Securities cut their price target on Prospect Capital from $7.00 to $6.00 and set a “sell” rating for the company in a research note on Wednesday, August 30th. UBS AG upgraded Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Finally, TheStreet downgraded Prospect Capital from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.17.
About Prospect Capital
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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