Envestnet Asset Management Inc. Has $4.85 Million Stock Holdings in Prospect Capital Corporation (NASDAQ:PSEC)

Envestnet Asset Management Inc. boosted its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 24.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,181,787 shares of the financial services provider's stock after acquiring an additional 235,139 shares during the period. Envestnet Asset Management Inc. owned 0.27% of Prospect Capital worth $4,845,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSEC. Balyasny Asset Management L.P. grew its holdings in Prospect Capital by 6,177.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider's stock worth $10,684,000 after acquiring an additional 2,439,426 shares during the period. Thomas J. Herzfeld Advisors Inc. acquired a new stake in Prospect Capital during the 4th quarter worth $7,880,000. PFG Investments LLC boosted its position in shares of Prospect Capital by 3,430.6% during the first quarter. PFG Investments LLC now owns 624,419 shares of the financial services provider's stock worth $2,560,000 after purchasing an additional 606,733 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Prospect Capital by 115.9% during the fourth quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider's stock worth $2,952,000 after purchasing an additional 367,634 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Prospect Capital during the fourth quarter worth $1,429,000. Institutional investors and hedge funds own 9.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Prospect Capital from $3.50 to $3.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th. Wall Street Zen raised shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th.

Prospect Capital Trading Down 1.7%

Shares of NASDAQ PSEC traded down $0.06 during midday trading on Monday, reaching $3.40. 2,926,582 shares of the stock were exchanged, compared to its average volume of 1,956,781. The business has a 50-day simple moving average of $3.31 and a two-hundred day simple moving average of $3.78. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of -3.95 and a beta of 0.83. Prospect Capital Corporation has a 12 month low of $3.10 and a 12 month high of $5.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.

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

Prospect Capital Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, July 30th will be paid a $0.045 dividend. This represents a yield of 15.88%. The ex-dividend date is Tuesday, July 29th. Prospect Capital's payout ratio is presently -62.79%.

Insiders Place Their Bets

In related news, CEO John F. Barry bought 623,300 shares of Prospect Capital stock in a transaction that occurred on Friday, June 20th. The stock was purchased at an average cost of $3.19 per share, with a total value of $1,988,327.00. Following the purchase, the chief executive officer owned 83,266,026 shares in the company, valued at approximately $265,618,622.94. This trade represents a 0.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 28.25% of the company's stock.

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.