Advisors Asset Management Inc. Sells 10,887 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Advisors Asset Management Inc. reduced its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 303,806 shares of the financial services provider’s stock after selling 10,887 shares during the quarter. Advisors Asset Management Inc. owned 0.07% of Prospect Capital worth $1,625,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. XML Financial LLC increased its holdings in shares of Prospect Capital by 8.1% in the third quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock worth $10,938,000 after acquiring an additional 153,180 shares in the last quarter. OLD National Bancorp IN acquired a new position in shares of Prospect Capital during the second quarter worth about $137,000. Van ECK Associates Corp boosted its position in shares of Prospect Capital by 23.3% during the third quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after buying an additional 1,690,290 shares during the period. Creative Planning boosted its position in shares of Prospect Capital by 387.3% during the second quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock worth $973,000 after buying an additional 139,842 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Prospect Capital by 344.0% during the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after buying an additional 722,925 shares during the period. 9.06% of the stock is currently owned by institutional investors.

Insider Activity at Prospect Capital

In other Prospect Capital news, CEO John F. Barry acquired 205,900 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was bought at an average cost of $4.40 per share, with a total value of $905,960.00. Following the completion of the transaction, the chief executive officer now directly owns 72,612,839 shares in the company, valued at approximately $319,496,491.60. This represents a 0.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 2,053,173 shares of company stock valued at $9,284,120. Insiders own 27.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSEC. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company reduced their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC opened at $4.83 on Monday. The stock has a 50 day moving average price of $5.10 and a 200 day moving average price of $5.30. Prospect Capital Co. has a 52 week low of $4.15 and a 52 week high of $6.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48. The stock has a market capitalization of $2.11 billion, a PE ratio of -18.58 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The firm had revenue of $196.31 million during the quarter.

Prospect Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.18%. Prospect Capital’s dividend payout ratio (DPR) is presently -276.92%.

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.