PVG Asset Management Corp Sells 23,133 Shares of Prospect Capital Corporation (PSEC)

PVG Asset Management Corp reduced its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,128 shares of the financial services provider’s stock after selling 23,133 shares during the period. PVG Asset Management Corp’s holdings in Prospect Capital were worth $720,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of Prospect Capital by 0.3% in the 2nd quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 70 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Prospect Capital by 0.6% in the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 105 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in shares of Prospect Capital by 0.7% in the 2nd quarter. Essex Financial Services Inc. now owns 45,438 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 323 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Prospect Capital by 1.3% in the 2nd quarter. D.A. Davidson & CO. now owns 57,013 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 753 shares during the last quarter. Finally, Green Square Capital LLC boosted its holdings in shares of Prospect Capital by 2.1% in the 2nd quarter. Green Square Capital LLC now owns 43,685 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 908 shares during the last quarter. 15.72% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have recently commented on the stock. BidaskClub downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, September 1st. National Securities lowered their price target on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, November 14th. ValuEngine raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Raymond James Financial raised shares of Prospect Capital from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. Prospect Capital presently has an average rating of “Hold” and a consensus price target of $6.17.

Shares of Prospect Capital Corporation (NASDAQ:PSEC) opened at $6.83 on Tuesday. Prospect Capital Corporation has a twelve month low of $5.51 and a twelve month high of $9.58. The stock has a market cap of $2,436.27, a price-to-earnings ratio of 8.35 and a beta of 0.56. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.78.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The firm had revenue of $158.58 million for the quarter, compared to analysts’ expectations of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.22 earnings per share. analysts anticipate that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.54%. The ex-dividend date of this dividend is Tuesday, January 30th. Prospect Capital’s dividend payout ratio is presently 144.00%.

In related news, insider M Grier Eliasek acquired 65,000 shares of Prospect Capital stock in a transaction on Friday, November 10th. The stock was bought at an average cost of $5.65 per share, for a total transaction of $367,250.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Barry acquired 995,883 shares of Prospect Capital stock in a transaction on Monday, November 20th. The shares were bought at an average price of $6.98 per share, with a total value of $6,951,263.34. Following the completion of the transaction, the insider now directly owns 25,219,413 shares of the company’s stock, valued at approximately $176,031,502.74. The disclosure for this purchase can be found here. Insiders have acquired 2,195,280 shares of company stock valued at $14,925,858 over the last 90 days. 7.10% of the stock is currently owned by company insiders.

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Prospect Capital Profile

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

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

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