UBS Group AG Lowers Stake in Prospect Capital Co. (NASDAQ:PSEC)

UBS Group AG cut its stake in Prospect Capital Co. (NASDAQ:PSEC – Get Rating) by 46.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410,948 shares of the financial services provider’s stock after selling 362,452 shares during the period. UBS Group AG owned about 0.10% of Prospect Capital worth $2,548,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSEC. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Prospect Capital during the 3rd quarter valued at about $31,000. Private Trust Co. NA purchased a new stake in Prospect Capital in the second quarter worth approximately $35,000. HHM Wealth Advisors LLC bought a new position in Prospect Capital during the second quarter valued at approximately $38,000. Wipfli Financial Advisors LLC purchased a new position in shares of Prospect Capital during the third quarter worth approximately $53,000. Finally, Capasso Planning Partners LLC bought a new stake in shares of Prospect Capital in the 3rd quarter worth approximately $62,000. Institutional investors own 7.03% of the company’s stock.

Prospect Capital Trading Up 1.1 %

PSEC opened at $7.40 on Monday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 43.53 and a beta of 1.03. Prospect Capital Co. has a one year low of $6.09 and a one year high of $8.63. The business has a 50 day simple moving average of $7.38 and a two-hundred day simple moving average of $7.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.87 and a quick ratio of 0.87.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, May 18th. Investors of record on Wednesday, April 26th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 9.73%. The ex-dividend date is Tuesday, April 25th. Prospect Capital’s dividend payout ratio is currently 423.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Prospect Capital from $6.00 to $6.50 and gave the stock an “underweight” rating in a research report on Monday, February 13th. TheStreet raised shares of Prospect Capital from a “c+” rating to a “b-” rating in a research note on Wednesday, January 25th. Finally, StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Monday, February 13th.

About Prospect Capital

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Prospect Capital Corp. is a business development company. The firm engages in lending to and investing in private businesses. It is also involved in generating current income and long-term capital appreciation through debt and equity investments. The company was founded by Michael Grier Eliasek on April 13, 2004 and is headquartered in New York, NY.