Wealthfront Advisers LLC Grows Holdings in Prospect Capital Corporation $PSEC

Wealthfront Advisers LLC grew its position in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 130.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,988 shares of the financial services provider’s stock after buying an additional 22,099 shares during the quarter. Wealthfront Advisers LLC’s holdings in Prospect Capital were worth $124,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PSEC. Focus Partners Advisor Solutions LLC boosted its holdings in Prospect Capital by 81.1% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 86,730 shares of the financial services provider’s stock worth $276,000 after buying an additional 38,852 shares during the period. Moloney Securities Asset Management LLC raised its stake in shares of Prospect Capital by 388.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 120,239 shares of the financial services provider’s stock valued at $382,000 after purchasing an additional 95,647 shares during the period. 180 Wealth Advisors LLC raised its stake in shares of Prospect Capital by 368.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 83,839 shares of the financial services provider’s stock valued at $267,000 after purchasing an additional 65,952 shares during the period. D.A. Davidson & CO. grew its holdings in Prospect Capital by 1.3% during the 2nd quarter. D.A. Davidson & CO. now owns 351,494 shares of the financial services provider’s stock valued at $1,118,000 after buying an additional 4,613 shares in the last quarter. Finally, Tweedy Browne Co LLC grew its holdings in Prospect Capital by 119.3% during the 2nd quarter. Tweedy Browne Co LLC now owns 67,032 shares of the financial services provider’s stock valued at $213,000 after buying an additional 36,470 shares in the last quarter. Institutional investors own 9.06% of the company’s stock.

Prospect Capital Stock Performance

Prospect Capital stock opened at $2.66 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.24 billion, a PE ratio of -1.99 and a beta of 0.85. The firm has a fifty day simple moving average of $2.77 and a two-hundred day simple moving average of $3.11. Prospect Capital Corporation has a twelve month low of $2.57 and a twelve month high of $5.28.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $166.95 million for the quarter, compared to analyst estimates 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 Announces Dividend

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 given a $0.045 dividend. The ex-dividend date is Wednesday, October 29th. This represents a c) dividend on an annualized basis and a dividend yield of 20.3%. Prospect Capital’s payout ratio is presently -40.30%.

Insider Activity

In other Prospect Capital news, COO M Grier Eliasek acquired 370,000 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was acquired at an average price of $2.71 per share, for a total transaction of $1,002,700.00. Following the acquisition, the chief operating officer owned 2,501,130 shares in the company, valued at $6,778,062.30. This represents a 17.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John F. Barry acquired 925,000 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was acquired at an average price of $2.72 per share, with a total value of $2,516,000.00. Following the acquisition, the chief executive officer owned 86,067,158 shares in the company, valued at approximately $234,102,669.76. This trade represents a 1.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 2,797,158 shares of company stock worth $7,485,119 over the last three months. 27.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.