Catalyst Capital Advisors LLC Lowers Holdings in Prospect Capital Corporation (NASDAQ:PSEC)

Catalyst Capital Advisors LLC trimmed its holdings in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 97.7% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 95,140 shares of the financial services provider's stock after selling 4,079,000 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Prospect Capital were worth $390,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Modern Wealth Management LLC increased its holdings in Prospect Capital by 9.3% in the 4th quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider's stock worth $136,000 after buying an additional 2,774 shares in the last quarter. Global Assets Advisory LLC grew its stake in shares of Prospect Capital by 33.4% during the 4th quarter. Global Assets Advisory LLC now owns 15,998 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 4,006 shares during the period. D.A. Davidson & CO. grew its stake in shares of Prospect Capital by 1.2% during the 1st quarter. D.A. Davidson & CO. now owns 346,881 shares of the financial services provider's stock valued at $1,422,000 after purchasing an additional 4,050 shares during the period. Focus Partners Advisor Solutions LLC grew its stake in shares of Prospect Capital by 21.8% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 25,229 shares of the financial services provider's stock valued at $109,000 after purchasing an additional 4,524 shares during the period. Finally, Tcfg Wealth Management LLC grew its stake in shares of Prospect Capital by 1.9% during the 1st quarter. Tcfg Wealth Management LLC now owns 274,657 shares of the financial services provider's stock valued at $1,126,000 after purchasing an additional 5,077 shares during the period. 9.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PSEC shares. Wells Fargo & Company cut their price target on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a research note on Monday, May 12th. Wall Street Zen upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th.

Prospect Capital Stock Performance

Shares of Prospect Capital stock traded up $0.01 during trading hours on Friday, reaching $3.32. 1,626,024 shares of the stock traded hands, compared to its average volume of 3,087,559. The company has a 50 day moving average price of $3.38 and a 200 day moving average price of $3.88. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -3.85 and a beta of 0.83. Prospect Capital Corporation has a one year low of $3.10 and a one year high of $5.63. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. The company had revenue of $170.72 million during the quarter, compared to the consensus estimate of $174.29 million. Prospect Capital had a positive return on equity of 12.43% and a negative net margin of 36.07%.

Prospect Capital Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a dividend yield of 16.46%. Prospect Capital's dividend payout ratio (DPR) is presently -62.79%.

Insider Activity

In related news, CEO John F. Barry acquired 623,300 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was bought at an average cost of $3.19 per share, for a total transaction of $1,988,327.00. Following the purchase, the chief executive officer owned 83,266,026 shares in the company, valued at $265,618,622.94. The trade was a 0.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 28.25% of the company's stock.

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.