Prospect Capital Corporation (NASDAQ:PSEC) Shares Sold by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. reduced its position in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 53.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,331 shares of the financial services provider's stock after selling 352,742 shares during the quarter. Cambridge Investment Research Advisors Inc. owned approximately 0.07% of Prospect Capital worth $1,264,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. acquired a new position in shares of Prospect Capital during the fourth quarter worth about $44,000. Centurion Wealth Management LLC acquired a new position in shares of Prospect Capital during the fourth quarter worth about $46,000. Envision Financial Planning LLC acquired a new position in shares of Prospect Capital during the fourth quarter worth about $56,000. PFG Advisors acquired a new position in shares of Prospect Capital during the fourth quarter worth about $57,000. Finally, Independent Advisor Alliance acquired a new position in shares of Prospect Capital during the fourth quarter worth about $62,000. 9.06% of the stock is owned by institutional investors and hedge funds.

Prospect Capital Price Performance

PSEC stock opened at $3.32 on Friday. The business has a 50 day moving average price of $3.38 and a 200 day moving average price of $3.89. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -3.85 and a beta of 0.83. Prospect Capital Corporation has a fifty-two week low of $3.10 and a fifty-two week high of $5.63. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share 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 analysts' expectations 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 Dividend Announcement

The firm also recently announced 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. This represents a yield of 16.46%. The ex-dividend date was Wednesday, May 28th. Prospect Capital's payout ratio is -62.79%.

Insiders Place Their Bets

In other news, CEO John F. Barry acquired 319,000 shares of Prospect Capital stock in a transaction on Monday, June 23rd. The stock was bought at an average price of $3.16 per share, for a total transaction of $1,008,040.00. Following the completion of the purchase, the chief executive officer owned 83,585,026 shares in the company, valued at $264,128,682.16. This represents a 0.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 28.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSEC. Wells Fargo & Company lowered their price objective on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a research report on Monday, May 12th. Wall Street Zen raised Prospect Capital from a "sell" rating to a "hold" rating in a research 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.

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