Nordea Investment Management AB decreased its stake in Prospect Capital Co. (NASDAQ:PSEC) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,536 shares of the financial services provider’s stock after selling 2,112 shares during the quarter. Nordea Investment Management AB owned approximately 0.06% of Prospect Capital worth $1,379,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. NumerixS Investment Technologies Inc acquired a new position in shares of Prospect Capital during the fourth quarter worth about $27,000. Flagship Harbor Advisors LLC boosted its position in shares of Prospect Capital by 66.2% during the first quarter. Flagship Harbor Advisors LLC now owns 5,752 shares of the financial services provider’s stock worth $37,000 after buying an additional 2,291 shares during the period. HCR Wealth Advisors acquired a new position in shares of Prospect Capital during the first quarter worth about $41,000. Nikulski Financial Inc. acquired a new position in shares of Prospect Capital during the first quarter worth about $49,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Prospect Capital during the first quarter worth about $63,000. Hedge funds and other institutional investors own 12.19% of the company’s stock.
Shares of NASDAQ PSEC traded up $0.02 during trading hours on Friday, reaching $6.67. 1,133,031 shares of the stock were exchanged, compared to its average volume of 1,148,927. The company has a market cap of $2.44 billion, a price-to-earnings ratio of 8.44 and a beta of 0.72. Prospect Capital Co. has a 52 week low of $5.70 and a 52 week high of $7.60. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $6.52.
The company also recently disclosed a monthly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, June 28th were issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 10.79%. The ex-dividend date was Thursday, June 27th. Prospect Capital’s dividend payout ratio (DPR) is 91.14%.
In other Prospect Capital news, CEO John F. Barry acquired 408,911 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $6.38 per share, with a total value of $2,608,852.18. Following the transaction, the chief executive officer now owns 38,938,445 shares in the company, valued at approximately $248,427,279.10. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO John F. Barry purchased 63,496 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $6.29 per share, with a total value of $399,389.84. Following the purchase, the chief executive officer now directly owns 38,364,480 shares in the company, valued at approximately $241,312,579.20. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 610,246 shares of company stock worth $3,882,141. 10.20% of the stock is currently owned by company insiders.
Several research firms recently issued reports on PSEC. TheStreet lowered Hostess Brands from a “b” rating to a “f” rating in a report on Thursday. Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. National Securities restated a “sell” rating and issued a $4.00 price objective on shares of Prospect Capital in a research note on Monday, May 13th. BidaskClub upgraded Zogenix from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Prospect Capital currently has a consensus rating of “Hold” and an average target price of $6.00.
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.
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