Moloney Securities Asset Management LLC Purchases 95,647 Shares of Prospect Capital Corporation $PSEC

Moloney Securities Asset Management LLC boosted its position in Prospect Capital Corporation (NASDAQ:PSEC) by 388.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,239 shares of the financial services provider’s stock after buying an additional 95,647 shares during the period. Moloney Securities Asset Management LLC’s holdings in Prospect Capital were worth $382,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in Prospect Capital in the 2nd quarter valued at about $75,680,000. Oppenheimer & Co. Inc. bought a new stake in Prospect Capital in the 1st quarter valued at about $70,000. Caxton Associates LLP bought a new stake in Prospect Capital during the 1st quarter worth approximately $1,517,000. Spire Wealth Management increased its holdings in Prospect Capital by 22.0% during the 1st quarter. Spire Wealth Management now owns 112,389 shares of the financial services provider’s stock worth $461,000 after purchasing an additional 20,245 shares in the last quarter. Finally, Private Advisor Group LLC increased its holdings in Prospect Capital by 48.0% during the 1st quarter. Private Advisor Group LLC now owns 589,686 shares of the financial services provider’s stock worth $2,418,000 after purchasing an additional 191,354 shares in the last quarter. 9.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. 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 report on Thursday, August 28th. Wall Street Zen raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a report on Saturday. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell” and an average target price of $2.50.

Insider Buying and Selling at Prospect Capital

In related news, CEO John F. Barry bought 925,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were purchased at an average price of $2.72 per share, for a total transaction of $2,516,000.00. Following the completion of the transaction, the chief executive officer directly owned 86,067,158 shares in the company, valued at approximately $234,102,669.76. The trade was a 1.09% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO M Grier Eliasek bought 370,000 shares of the company’s stock in a transaction on Thursday, September 25th. The shares were bought at an average price of $2.71 per share, for a total transaction of $1,002,700.00. Following the transaction, the chief operating officer owned 2,501,130 shares of the company’s stock, valued at approximately $6,778,062.30. This represents a 17.36% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,797,158 shares of company stock worth $7,485,119. Company insiders own 27.98% of the company’s stock.

Prospect Capital Price Performance

Prospect Capital stock opened at $2.75 on Friday. Prospect Capital Corporation has a 12 month low of $2.57 and a 12 month high of $5.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70. The business’s 50 day simple moving average is $2.78 and its 200 day simple moving average is $3.15. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -2.05 and a beta of 0.85.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. Prospect Capital had a positive return on equity of 12.14% and a negative net margin of 69.68%.The business had revenue of $166.95 million for the quarter, compared to the consensus estimate of $167.08 million.

Prospect Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a dividend of $0.045 per share. The ex-dividend date is Wednesday, October 29th. This represents a c) annualized dividend and a dividend yield of 19.6%. Prospect Capital’s dividend payout ratio is currently -40.30%.

Prospect Capital Profile

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.