Prospect Capital Corporation (NASDAQ:PSEC) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers cut its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 43.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 257,741 shares of the financial services provider’s stock after selling 196,285 shares during the quarter. Cetera Investment Advisers owned approximately 0.06% of Prospect Capital worth $1,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in Prospect Capital by 4,160.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock valued at $4,080,000 after buying an additional 924,428 shares during the last quarter. Cerity Partners LLC acquired a new stake in Prospect Capital in the fourth quarter valued at $304,000. XTX Topco Ltd grew its holdings in Prospect Capital by 943.8% in the fourth quarter. XTX Topco Ltd now owns 172,329 shares of the financial services provider’s stock valued at $743,000 after purchasing an additional 155,820 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Prospect Capital by 8.2% in the fourth quarter. Guggenheim Capital LLC now owns 88,830 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 6,734 shares in the last quarter. Finally, Cravens & Co Advisors LLC purchased a new stake in shares of Prospect Capital in the fourth quarter valued at $86,000. 9.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Prospect Capital news, CEO John F. Barry acquired 623,300 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $3.19 per share, with a total value of $1,988,327.00. Following the purchase, the chief executive officer owned 83,266,026 shares of the company’s stock, valued at $265,618,622.94. This represents a 0.75% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 28.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their target price on Prospect Capital from $3.50 to $3.00 and set an “underweight” rating on the stock in a report on Monday, May 12th.

Prospect Capital Stock Down 0.4%

NASDAQ PSEC opened at $2.79 on Tuesday. The firm has a market cap of $1.24 billion, a PE ratio of -3.24 and a beta of 0.85. Prospect Capital Corporation has a one year low of $2.73 and a one year high of $5.57. The stock’s 50 day simple moving average is $3.23 and its 200 day simple moving average is $3.69. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

Prospect Capital Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Wednesday, July 30th will be given a $0.045 dividend. This represents a dividend yield of 1,588.0%. The ex-dividend date is Tuesday, July 29th. Prospect Capital’s dividend payout ratio (DPR) is currently -62.79%.

About Prospect Capital

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.