Cambridge Investment Research Advisors Inc. Sells 352,742 Shares of Prospect Capital Corporation (NASDAQ:PSEC)

Cambridge Investment Research Advisors Inc. lessened its holdings in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 53.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 308,331 shares of the financial services provider's stock after selling 352,742 shares during the period. Cambridge Investment Research Advisors Inc. owned about 0.07% of Prospect Capital worth $1,264,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC bought a new stake in Prospect Capital during the 4th quarter worth $304,000. ProShare Advisors LLC boosted its stake in shares of Prospect Capital by 18.5% during the fourth quarter. ProShare Advisors LLC now owns 69,988 shares of the financial services provider's stock valued at $302,000 after purchasing an additional 10,906 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Prospect Capital during the fourth quarter worth about $346,000. BNP Paribas Financial Markets grew its holdings in shares of Prospect Capital by 90.4% during the fourth quarter. BNP Paribas Financial Markets now owns 259,449 shares of the financial services provider's stock worth $1,118,000 after purchasing an additional 123,200 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Prospect Capital by 4,160.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock valued at $4,080,000 after buying an additional 924,428 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 acquired 319,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was purchased at an average cost of $3.16 per share, with a total value of $1,008,040.00. Following the transaction, the chief executive officer owned 83,585,026 shares in the company, valued at approximately $264,128,682.16. The trade was a 0.38% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 28.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on PSEC. Wells Fargo & Company cut their target price 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 upgraded Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th.

Prospect Capital Trading Up 0.3%

Shares of PSEC traded up $0.01 during mid-day trading on Tuesday, reaching $3.32. 1,593,269 shares of the company were exchanged, compared to its average volume of 3,086,300. The business has a 50 day simple moving average of $3.37 and a two-hundred day simple moving average of $3.87. Prospect Capital Corporation has a 52 week low of $3.10 and a 52 week high of $5.63. The stock has a market capitalization of $1.48 billion, a PE ratio of -3.86 and a beta of 0.83. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 0.83.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its quarterly earnings results 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 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 Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, May 29th were issued a $0.045 dividend. The ex-dividend date was Wednesday, May 28th. This represents a yield of 16.46%. Prospect Capital's payout ratio is -62.79%.

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.