Advisory Services Network LLC Boosts Stake in Prospect Capital Co. (NASDAQ:PSEC)

Advisory Services Network LLC lifted its holdings in Prospect Capital Co. (NASDAQ:PSECFree Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,811 shares of the financial services provider’s stock after buying an additional 4,558 shares during the quarter. Advisory Services Network LLC’s holdings in Prospect Capital were worth $748,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Prospect Capital by 3.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 246,905 shares of the financial services provider’s stock valued at $1,479,000 after buying an additional 7,773 shares in the last quarter. WMG Financial Advisors LLC purchased a new stake in Prospect Capital during the fourth quarter worth $108,000. Jump Financial LLC boosted its position in Prospect Capital by 105.9% during the fourth quarter. Jump Financial LLC now owns 328,220 shares of the financial services provider’s stock worth $1,966,000 after purchasing an additional 168,820 shares in the last quarter. Forte Capital LLC ADV purchased a new stake in Prospect Capital during the fourth quarter worth $564,000. Finally, LSV Asset Management boosted its position in Prospect Capital by 17.2% during the fourth quarter. LSV Asset Management now owns 2,035,654 shares of the financial services provider’s stock worth $12,194,000 after purchasing an additional 298,400 shares in the last quarter. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company decreased their target price on Prospect Capital from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, May 16th.

Check Out Our Latest Stock Report on PSEC

Insider Transactions at Prospect Capital

In other Prospect Capital news, CFO Dask Kristin Lea Van bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was purchased at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $54,400. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 26.69% of the company’s stock.

Prospect Capital Stock Performance

NASDAQ PSEC opened at $5.62 on Friday. Prospect Capital Co. has a fifty-two week low of $5.03 and a fifty-two week high of $6.69. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of 16.53 and a beta of 1.00. The business has a fifty day moving average of $5.46 and a 200-day moving average of $5.69. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.66.

Prospect Capital (NASDAQ:PSECGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. The company had revenue of $202.22 million during the quarter, compared to analysts’ expectations of $214.70 million.

Prospect Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.81%. Prospect Capital’s dividend payout ratio (DPR) is 211.76%.

Prospect Capital Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Prospect Capital (NASDAQ:PSEC)

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