Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 88.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,901 shares of the financial services provider's stock after selling 242,573 shares during the period. Sumitomo Mitsui Trust Holdings Inc.'s holdings in Prospect Capital were worth $197,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. DAVENPORT & Co LLC boosted its position in shares of Prospect Capital by 42.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 30,006 shares of the financial services provider's stock worth $182,000 after purchasing an additional 9,000 shares in the last quarter. Sunesis Advisors LLC bought a new position in Prospect Capital in the 3rd quarter valued at about $135,000. Bank of New York Mellon Corp lifted its position in Prospect Capital by 17.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 78,172 shares of the financial services provider's stock valued at $473,000 after acquiring an additional 11,679 shares in the last quarter. Inspire Investing LLC bought a new position in Prospect Capital in the 3rd quarter valued at about $307,000. Finally, Teamwork Financial Advisors LLC lifted its position in Prospect Capital by 10.2% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 57,636 shares of the financial services provider's stock valued at $349,000 after acquiring an additional 5,318 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Prospect Capital
In related news, CFO Dask Kristin Lea Van purchased 5,000 shares of the firm's stock in a transaction dated Monday, March 11th. The stock was bought at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the purchase, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $54,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 26.69% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms have commented on PSEC. Wells Fargo & Company lifted their target price on shares of Prospect Capital from $5.50 to $5.75 and gave the stock an "underweight" rating in a research report on Monday, January 29th. StockNews.com raised shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Friday.
Check Out Our Latest Stock Analysis on PSEC
Prospect Capital Stock Performance
Shares of Prospect Capital stock traded up $0.03 during mid-day trading on Friday, hitting $5.27. 2,400,846 shares of the stock were exchanged, compared to its average volume of 1,417,533. Prospect Capital Co. has a 12 month low of $5.03 and a 12 month high of $6.84. The company has a 50-day simple moving average of $5.50 and a 200 day simple moving average of $5.71. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $2.19 billion, a P/E ratio of -26.35 and a beta of 1.00.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The company had revenue of $210.94 million during the quarter, compared to analyst estimates of $226.14 million. Sell-side analysts anticipate that Prospect Capital Co. will post 0.82 earnings per share for the current fiscal year.
Prospect Capital Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th will be paid a dividend of $0.06 per share. The ex-dividend date is Thursday, April 25th. This represents a $0.72 annualized dividend and a dividend yield of 13.66%. Prospect Capital's payout ratio is currently -359.98%.
About Prospect Capital
(
Free Report)
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.
Further Reading
Before you consider Prospect Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Prospect Capital wasn't on the list.
While Prospect Capital currently has a "Sell" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
