Blair William & Co. IL Purchases 7,873 Shares of Prospect Capital Corporation $PSEC

Blair William & Co. IL boosted its position in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 17.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 53,473 shares of the financial services provider’s stock after acquiring an additional 7,873 shares during the period. Blair William & Co. IL’s holdings in Prospect Capital were worth $170,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSEC. Kingstone Capital Partners Texas LLC purchased a new stake in Prospect Capital during the second quarter valued at approximately $75,680,000. Thomas J. Herzfeld Advisors Inc. raised its position in Prospect Capital by 26.6% during the first quarter. Thomas J. Herzfeld Advisors Inc. now owns 2,315,582 shares of the financial services provider’s stock valued at $9,494,000 after purchasing an additional 487,171 shares during the period. Envestnet Asset Management Inc. raised its position in Prospect Capital by 24.8% during the first quarter. Envestnet Asset Management Inc. now owns 1,181,787 shares of the financial services provider’s stock valued at $4,845,000 after purchasing an additional 235,139 shares during the period. Trexquant Investment LP raised its position in Prospect Capital by 176.1% during the first quarter. Trexquant Investment LP now owns 915,452 shares of the financial services provider’s stock valued at $3,753,000 after purchasing an additional 583,844 shares during the period. Finally, Private Advisor Group LLC raised its position in Prospect Capital by 48.0% during the first quarter. Private Advisor Group LLC now owns 589,686 shares of the financial services provider’s stock valued at $2,418,000 after purchasing an additional 191,354 shares during the period. 9.06% of the stock is owned by institutional investors.

Prospect Capital Trading Down 1.4%

PSEC opened at $2.73 on Monday. The stock’s fifty day moving average is $2.79 and its two-hundred day moving average is $3.18. The company has a market capitalization of $1.27 billion, a P/E ratio of -2.04 and a beta of 0.85. Prospect Capital Corporation has a 52 week low of $2.57 and a 52 week high of $5.41. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.70.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $166.95 million for the quarter, compared to the consensus estimate of $167.08 million. Prospect Capital had a positive return on equity of 12.14% and a negative net margin of 69.68%.

Prospect Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $0.045 per share. This represents a c) annualized dividend and a yield of 19.8%. The ex-dividend date is Wednesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is presently -40.30%.

Analyst Upgrades and Downgrades

PSEC has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Prospect Capital in a research report on Wednesday, October 8th. Wall Street Zen upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Wells Fargo & Company reduced their price target on Prospect Capital from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Thursday, August 28th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell” and a consensus price target of $2.50.

Insider Buying and Selling at Prospect Capital

In related news, COO M Grier Eliasek bought 370,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were acquired at an average price of $2.71 per share, with a total value of $1,002,700.00. Following the transaction, the chief operating officer owned 2,501,130 shares of the company’s stock, valued at $6,778,062.30. The trade was a 17.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John F. Barry bought 925,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were bought at an average cost of $2.72 per share, for a total transaction of $2,516,000.00. Following the transaction, the chief executive officer directly owned 86,067,158 shares in the company, valued at approximately $234,102,669.76. This represents a 1.09% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,797,158 shares of company stock worth $7,485,119 over the last 90 days. 27.98% of the stock is currently owned by company insiders.

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.