BI Asset Management Fondsmaeglerselskab A S Has $2.11 Million Stock Position in Prospect Capital Corporation $PSEC

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its stake in Prospect Capital Corporation by 27.4%, owning now 514,076 shares worth $2.1 million after selling 193,751 shares in the first quarter.
• Several hedge funds significantly increased their holdings in Prospect Capital during the fourth quarter, with Envestnet Asset Management growing its stake by an impressive 4,160.3%.
• Wells Fargo downgraded Prospect Capital's stock target price from $3.50 to $3.00, now rating it as "underweight" with a consensus recommendation of "Sell."

BI Asset Management Fondsmaeglerselskab A S lessened its stake in Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 27.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 514,076 shares of the financial services provider's stock after selling 193,751 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.12% of Prospect Capital worth $2,108,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. VSM Wealth Advisory LLC acquired a new position in Prospect Capital in the 1st quarter valued at approximately $25,000. KG&L Capital Management LLC acquired a new position in shares of Prospect Capital during the 1st quarter worth $41,000. Ameriflex Group Inc. acquired a new position in shares of Prospect Capital during the 4th quarter worth $62,000. Tower Research Capital LLC TRC increased its stake in shares of 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 during the last quarter. Finally, Global Assets Advisory LLC grew its stake in Prospect Capital by 33.4% in the 4th quarter. Global Assets Advisory LLC now owns 15,998 shares of the financial services provider's stock valued at $69,000 after buying an additional 4,006 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company lowered 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 note on Monday, May 12th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell" and an average price target of $3.00.

Prospect Capital Stock Performance

Prospect Capital stock traded up $0.04 during mid-day trading on Wednesday, reaching $2.87. The company had a trading volume of 2,814,698 shares, compared to its average volume of 3,091,955. The company has a 50 day moving average of $3.13 and a 200-day moving average of $3.58. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -3.33 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. 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 released its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The company had revenue of $166.95 million during the quarter, compared to the consensus estimate of $167.08 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 firm also recently disclosed a dividend, which was paid on Wednesday, August 20th. Stockholders of record on Wednesday, July 30th were issued a dividend of $0.045 per share. This represents a dividend yield of 1,588.0%. The ex-dividend date of this dividend was Tuesday, July 29th. Prospect Capital's dividend payout ratio (DPR) is presently -62.79%.

Insider Activity at Prospect Capital

In other Prospect Capital news, CEO John F. Barry acquired 623,300 shares of Prospect Capital stock in a transaction dated Friday, June 20th. The stock was bought at an average cost of $3.19 per share, with a total value of $1,988,327.00. Following the acquisition, the chief executive officer owned 83,266,026 shares of the company's stock, valued at approximately $265,618,622.94. The trade was a 0.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 28.25% of the company's stock.

Prospect Capital Company 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.