D.A. Davidson & CO. Increases Stock Holdings in Prospect Capital Co. (NASDAQ:PSEC)

D.A. Davidson & CO. lifted its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 299,078 shares of the financial services provider’s stock after buying an additional 7,641 shares during the quarter. D.A. Davidson & CO. owned approximately 0.07% of Prospect Capital worth $1,600,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. XML Financial LLC raised its position in Prospect Capital by 8.1% during the third quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock worth $10,938,000 after acquiring an additional 153,180 shares during the last quarter. OLD National Bancorp IN acquired a new position in shares of Prospect Capital during the 2nd quarter worth approximately $137,000. Van ECK Associates Corp lifted its stake in Prospect Capital by 23.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock valued at $47,376,000 after buying an additional 1,690,290 shares in the last quarter. Creative Planning grew its holdings in Prospect Capital by 387.3% during the 2nd quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after buying an additional 139,842 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position 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 worth $4,992,000 after buying an additional 722,925 shares in the last quarter. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Trading Up 0.6 %

Shares of PSEC opened at $4.78 on Friday. Prospect Capital Co. has a fifty-two week low of $4.15 and a fifty-two week high of $6.30. The stock has a fifty day moving average of $5.03 and a two-hundred day moving average of $5.28. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $2.08 billion, a PE ratio of -18.38 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.045 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 annualized dividend and a dividend yield of 11.30%. Prospect Capital’s dividend payout ratio is presently -207.69%.

Insiders Place Their Bets

In related news, CEO John F. Barry purchased 837,273 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was purchased at an average cost of $4.47 per share, for a total transaction of $3,742,610.31. Following the acquisition, the chief executive officer now owns 73,450,112 shares in the company, valued at approximately $328,322,000.64. This trade represents a 1.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 3,063,173 shares of company stock worth $14,111,320 over the last three months. 27.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.