Arkadios Wealth Advisors Sells 11,024 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Arkadios Wealth Advisors decreased its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 48.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,901 shares of the financial services provider’s stock after selling 11,024 shares during the period. Arkadios Wealth Advisors’ holdings in Prospect Capital were worth $64,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. West Michigan Advisors LLC bought a new stake in Prospect Capital in the third quarter valued at approximately $92,000. Global Assets Advisory LLC bought a new stake in Prospect Capital in the third quarter valued at approximately $64,000. International Assets Investment Management LLC raised its stake in Prospect Capital by 344.0% in the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after buying an additional 722,925 shares during the period. Sequoia Financial Advisors LLC bought a new stake in Prospect Capital in the third quarter valued at approximately $129,000. Finally, Teamwork Financial Advisors LLC increased its stake in shares of Prospect Capital by 17.3% during the third quarter. Teamwork Financial Advisors LLC now owns 63,515 shares of the financial services provider’s stock worth $340,000 after purchasing an additional 9,380 shares during the period. Institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSEC. Wells Fargo & Company lowered their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Prospect Capital Price Performance

Shares of NASDAQ PSEC opened at $5.13 on Friday. The firm has a market cap of $2.22 billion, a P/E ratio of 14.66 and a beta of 1.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. Prospect Capital Co. has a 1-year low of $4.69 and a 1-year high of $6.30. The business’s 50 day moving average is $5.27 and its 200-day moving average is $5.37.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $212.26 million for the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same period in the prior year, the company earned $0.23 EPS.

Prospect Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 14.04%. The ex-dividend date of this dividend is Tuesday, October 29th. Prospect Capital’s dividend payout ratio is currently 205.71%.

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.