LPL Financial LLC Has $4.11 Million Stock Position in Prospect Capital Corporation (NASDAQ:PSEC)

Key Points

• LPL Financial LLC has reduced its position in Prospect Capital Corporation by 22.6% to approximately $4.11 million, owning about 1,001,866 shares as per its recent SEC filing.
• Prospect Capital has declared a dividend of $0.045 per share set to be paid on August 20th, representing a remarkable dividend yield of 1,588.0%.
• CEO John F. Barry recently purchased 319,000 shares at an average price of $3.16, increasing his ownership in the company to over 83.5 million shares.

LPL Financial LLC reduced its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 22.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,001,866 shares of the financial services provider's stock after selling 292,791 shares during the period. LPL Financial LLC owned about 0.22% of Prospect Capital worth $4,108,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSEC. VSM Wealth Advisory LLC bought a new stake in Prospect Capital during the 1st quarter worth approximately $25,000. KG&L Capital Management LLC bought a new stake in Prospect Capital during the 1st quarter worth approximately $41,000. Ameriflex Group Inc. bought a new stake in Prospect Capital during the 4th quarter worth approximately $62,000. Tower Research Capital LLC TRC increased its holdings in Prospect Capital by 732.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,560 shares of the financial services provider's stock worth $63,000 after purchasing an additional 12,810 shares in the last quarter. Finally, Global Assets Advisory LLC increased its holdings in 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 worth $69,000 after purchasing an additional 4,006 shares in the last quarter. 9.06% of the stock is owned by institutional investors.

Prospect Capital Stock Performance

Shares of PSEC opened at $2.85 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a 50 day moving average price of $3.20 and a two-hundred day moving average price of $3.66. The firm has a market capitalization of $1.27 billion, a P/E ratio of -3.31 and a beta of 0.85. Prospect Capital Corporation has a 52 week low of $2.73 and a 52 week high of $5.57.

Prospect Capital Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, August 20th. Investors of record on Wednesday, July 30th will be given a dividend of $0.045 per share. This represents a dividend yield of 1,588.0%. The ex-dividend date of this dividend is Tuesday, July 29th. Prospect Capital's dividend payout ratio (DPR) is presently -62.79%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company decreased their price objective on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a report on Monday, May 12th.

Insider Activity at Prospect Capital

In other Prospect Capital news, CEO John F. Barry purchased 319,000 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was bought at an average cost of $3.16 per share, with a total value of $1,008,040.00. Following the completion of the transaction, the chief executive officer owned 83,585,026 shares of the company's stock, valued at $264,128,682.16. The trade was a 0.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 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.

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