Atria Wealth Solutions Inc. Raises Stake in Prospect Capital Co. (NASDAQ:PSEC)

Atria Wealth Solutions Inc. grew its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 57.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,940 shares of the financial services provider’s stock after acquiring an additional 46,903 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Prospect Capital were worth $766,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. DNB Asset Management AS boosted its holdings in Prospect Capital by 19.8% during the 4th quarter. DNB Asset Management AS now owns 254,115 shares of the financial services provider’s stock valued at $1,522,000 after acquiring an additional 42,005 shares during the period. Van ECK Associates Corp grew its holdings in shares of Prospect Capital by 8.0% in the third quarter. Van ECK Associates Corp now owns 4,884,389 shares of the financial services provider’s stock worth $29,551,000 after purchasing an additional 360,385 shares during the last quarter. Jump Financial LLC grew its holdings in shares of Prospect Capital by 1,166.6% in the third quarter. Jump Financial LLC now owns 159,400 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 146,815 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Prospect Capital by 3.6% in the third quarter. HighTower Advisors LLC now owns 158,932 shares of the financial services provider’s stock worth $961,000 after buying an additional 5,588 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Prospect Capital by 613.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 111,012 shares of the financial services provider’s stock valued at $672,000 after buying an additional 95,444 shares during the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Prospect Capital news, CFO Dask Kristin Lea Van acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average price of $5.44 per share, with a total value of $27,200.00. Following the completion of the purchase, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $54,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.69% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSEC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price target on Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a report on Monday, January 29th.

Prospect Capital Stock Up 0.2 %

NASDAQ:PSEC opened at $5.23 on Friday. The company has a 50-day moving average price of $5.46 and a 200-day moving average price of $5.69. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.67. Prospect Capital Co. has a 12 month low of $5.03 and a 12 month high of $6.69.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, topping the consensus estimate of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The business had revenue of $210.94 million during the quarter, compared to analyst estimates of $226.14 million. On average, research analysts expect that Prospect Capital Co. will post 0.82 earnings per share for the current year.

Prospect Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 21st. Investors of record on Friday, April 26th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $0.72 annualized dividend and a yield of 13.77%. Prospect Capital’s payout ratio is -359.98%.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.