Private Advisor Group LLC Raises Holdings in Prospect Capital Corporation (NASDAQ:PSEC)

Private Advisor Group LLC increased its stake in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 48.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 589,686 shares of the financial services provider's stock after purchasing an additional 191,354 shares during the quarter. Private Advisor Group LLC owned about 0.13% of Prospect Capital worth $2,418,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. KG&L Capital Management LLC acquired a new position in shares of Prospect Capital in the 1st quarter valued at about $41,000. Nomura Asset Management Co. Ltd. bought a new stake in Prospect Capital during the fourth quarter worth approximately $44,000. Envision Financial Planning LLC bought a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $56,000. Ameriflex Group Inc. bought a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $62,000. Finally, Tower Research Capital LLC TRC lifted its position in Prospect Capital by 732.0% in the fourth 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 during the period. Institutional investors and hedge funds own 9.06% of the company's stock.

Insider Buying and Selling

In other Prospect Capital 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 acquired at an average cost of $3.19 per share, for a total transaction 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 represents a 0.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 28.25% of the stock is currently owned by insiders.

Prospect Capital Stock Up 0.7%

Shares of NASDAQ:PSEC traded up $0.03 during mid-day trading on Monday, hitting $3.45. 795,952 shares of the company traded hands, compared to its average volume of 2,873,488. The stock has a 50-day moving average price of $3.31 and a two-hundred day moving average price of $3.79. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Prospect Capital Corporation has a 12-month low of $3.10 and a 12-month high of $5.57. The stock has a market cap of $1.54 billion, a P/E ratio of -4.01 and a beta of 0.83.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. The firm had revenue of $170.72 million for the quarter, compared to analyst estimates 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 payout ratio is -62.79%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PSEC shares. Wells Fargo & Company dropped their price objective 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 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.