Prospect Capital Corporation $PSEC Stake Lowered by Caxton Associates LLP

Caxton Associates LLP cut its stake in Prospect Capital Corporation (NASDAQ:PSEC) by 81.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,523 shares of the financial services provider’s stock after selling 576,730 shares during the quarter. Caxton Associates LLP’s holdings in Prospect Capital were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Catalyst Financial Partners LLC acquired a new stake in Prospect Capital during the fourth quarter valued at $26,000. Bfsg LLC acquired a new position in Prospect Capital in the 4th quarter worth about $27,000. Ground Swell Capital LLC acquired a new position in Prospect Capital in the 4th quarter worth about $28,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Prospect Capital during the 4th quarter worth about $28,000. Finally, Evergreen Capital Management LLC purchased a new stake in shares of Prospect Capital during the 4th quarter worth about $30,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Prospect Capital

In related news, CEO John F. Barry bought 1,067,648 shares of Prospect Capital stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $2.27 per share, for a total transaction of $2,423,560.96. Following the acquisition, the chief executive officer owned 89,213,725 shares in the company, valued at $202,515,155.75. This trade represents a 1.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders purchased 2,732,648 shares of company stock valued at $6,216,361. 0.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PSEC has been the subject of several recent research reports. Wall Street Zen raised Prospect Capital from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Prospect Capital has an average rating of “Sell” and a consensus price target of $2.00.

Prospect Capital Stock Performance

Prospect Capital stock opened at $2.23 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -6.03 and a beta of 0.78. Prospect Capital Corporation has a one year low of $2.11 and a one year high of $3.37. The company’s fifty day moving average price is $2.26 and its two-hundred day moving average price is $2.54.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.05. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.The company had revenue of $150.07 million for the quarter, compared to analyst estimates of $163.23 million.

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 27th will be paid a $0.035 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 18.8%. The ex-dividend date of this dividend is Thursday, August 27th. Prospect Capital’s dividend payout ratio (DPR) is presently -113.51%.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.