Eqis Capital Management Inc. lessened its stake in Prospect Capital Co. (NASDAQ:PSEC) by 42.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,455 shares of the financial services provider’s stock after selling 13,486 shares during the quarter. Eqis Capital Management Inc.’s holdings in Prospect Capital were worth $122,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Phocas Financial Corp. acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at approximately $2,055,000. Point72 Asset Management L.P. acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at approximately $63,000. First National Bank of Omaha acquired a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $66,000. Finally, Mycio Wealth Partners LLC acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at approximately $67,000. 12.34% of the stock is owned by institutional investors.
In other Prospect Capital news, CEO John F. Barry purchased 237,857 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $6.34 per share, for a total transaction of $1,508,013.38. Following the purchase, the chief executive officer now owns 39,906,051 shares in the company, valued at $253,004,363.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Barry purchased 139,761 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $6.40 per share, for a total transaction of $894,470.40. Following the purchase, the chief executive officer now owns 39,460,914 shares in the company, valued at approximately $252,549,849.60. The disclosure for this purchase can be found here. 11.30% of the stock is currently owned by corporate insiders.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.14). Prospect Capital had a net margin of 11.49% and a return on equity of 9.05%. The business had revenue of $161.88 million during the quarter, compared to the consensus estimate of $162.98 million. During the same quarter last year, the company posted $0.23 EPS. Equities analysts forecast that Prospect Capital Co. will post 0.72 earnings per share for the current year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 11.08%. The ex-dividend date is Wednesday, November 27th. Prospect Capital’s dividend payout ratio (DPR) is presently 84.71%.
PSEC has been the subject of several recent analyst reports. ValuEngine downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. BidaskClub downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Zacks Investment Research downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday. Finally, TheStreet downgraded Prospect Capital from a “b-” rating to a “c” rating in a report on Friday, September 13th. Five research analysts have rated the stock with a sell rating, The stock presently has a consensus rating of “Sell” and a consensus price target of $5.00.
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.
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