Prospect Capital Co. (NASDAQ:PSEC) Position Reduced by US Bancorp DE

US Bancorp DE cut its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 35.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the financial services provider’s stock after selling 100,100 shares during the quarter. US Bancorp DE’s holdings in Prospect Capital were worth $963,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PSEC. Y.D. More Investments Ltd lifted its stake in Prospect Capital by 303.6% during the second quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock valued at $29,064,000 after buying an additional 3,808,560 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Prospect Capital by 344.0% during 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 in the last quarter. XML Financial LLC lifted its stake in Prospect Capital by 29.1% during the first quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock valued at $9,455,000 after buying an additional 386,266 shares in the last quarter. TrueMark Investments LLC purchased a new stake in shares of Prospect Capital in the second quarter worth approximately $2,107,000. Finally, Van ECK Associates Corp lifted its position in shares of Prospect Capital by 5.4% in the second quarter. Van ECK Associates Corp now owns 7,248,573 shares of the financial services provider’s stock worth $40,085,000 after purchasing an additional 368,412 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSEC. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

Prospect Capital Trading Down 14.5 %

Shares of PSEC stock opened at $4.47 on Friday. Prospect Capital Co. has a 12 month low of $4.39 and a 12 month high of $6.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average is $5.26 and its two-hundred day moving average is $5.36. The company has a market cap of $1.94 billion, a PE ratio of 12.77 and a beta of 1.00.

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

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be issued a dividend of $0.06 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.72 annualized dividend and a yield of 16.11%. Prospect Capital’s dividend payout ratio (DPR) is presently 205.71%.

Prospect Capital Company 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.