Prospect Capital Co. (NASDAQ:PSEC) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. lessened its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 138,549 shares of the financial services provider’s stock after selling 6,358 shares during the period. Kovack Advisors Inc.’s holdings in Prospect Capital were worth $765,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA raised its stake in Prospect Capital by 54.3% in the fourth quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock valued at $46,000 after buying an additional 2,722 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Prospect Capital by 62.7% during the fourth quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 3,746 shares in the last quarter. WealthPlan Investment Management LLC purchased a new position in shares of Prospect Capital in the 3rd quarter valued at approximately $62,000. Cape Investment Advisory Inc. boosted its stake in Prospect Capital by 2,279.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 13,299 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 12,740 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Prospect Capital by 1,149.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 13,459 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 12,382 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PSEC. Wells Fargo & Company decreased their price target on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, May 16th. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th.

Insider Transactions at Prospect Capital

In related news, CFO Dask Kristin Lea Van purchased 3,330 shares of Prospect Capital stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average cost of $22.50 per share, for a total transaction of $74,925.00. Following the completion of the transaction, the chief financial officer now owns 4,539 shares in the company, valued at $102,127.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 26.69% of the company’s stock.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $5.51 on Friday. Prospect Capital Co. has a twelve month low of $5.03 and a twelve month high of $6.69. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.30 billion, a PE ratio of 16.21 and a beta of 1.01. The company’s 50 day moving average is $5.52 and its 200 day moving average is $5.66.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. The business had revenue of $202.22 million for the quarter, compared to the consensus estimate of $214.70 million.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.72 annualized dividend and a dividend yield of 13.07%. Prospect Capital’s dividend payout ratio (DPR) is presently 211.76%.

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.