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

Envestnet Asset Management Inc. raised its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 24.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,181,787 shares of the financial services provider's stock after buying an additional 235,139 shares during the period. Envestnet Asset Management Inc. owned about 0.27% of Prospect Capital worth $4,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSEC. KG&L Capital Management LLC bought a new position in shares of Prospect Capital during the first quarter worth about $41,000. Nomura Asset Management Co. Ltd. bought a new position in shares of Prospect Capital during the fourth quarter worth about $44,000. Envision Financial Planning LLC bought a new position in shares of Prospect Capital during the fourth quarter worth about $56,000. Ameriflex Group Inc. bought a new position in shares of Prospect Capital during the fourth quarter worth about $62,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Prospect Capital by 732.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,560 shares of the financial services provider's stock worth $63,000 after acquiring an additional 12,810 shares during the last quarter. 9.06% of the stock is owned by institutional investors and hedge funds.

Prospect Capital Price Performance

PSEC remained flat at $3.46 during midday trading on Friday. 2,721,857 shares of the company traded hands, compared to its average volume of 1,991,630. Prospect Capital Corporation has a 52-week low of $3.10 and a 52-week high of $5.57. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company's 50 day moving average price is $3.31 and its two-hundred day moving average price is $3.80. The stock has a market capitalization of $1.54 billion, a P/E ratio of -4.02 and a beta of 0.83.

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, topping the consensus estimate of $0.14 by $0.05. The business had revenue of $170.72 million for the quarter, compared to the consensus estimate 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 disclosed a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were paid a $0.045 dividend. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a dividend yield of 16.46%. Prospect Capital's payout ratio is -62.79%.

Insider Buying and Selling

In other 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 completion of the transaction, the chief executive officer directly owned 83,266,026 shares in the company, valued at $265,618,622.94. This trade represents a 0.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 28.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.