Sigma Planning Corp Sells 200,443 Shares of Prospect Capital Corporation (NASDAQ:PSEC)

Sigma Planning Corp reduced its position in shares of Prospect Capital Corporation (NASDAQ:PSEC - Free Report) by 82.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,745 shares of the financial services provider's stock after selling 200,443 shares during the period. Sigma Planning Corp's holdings in Prospect Capital were worth $179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Virtu Financial LLC increased its position in shares of Prospect Capital by 25.9% in the fourth quarter. Virtu Financial LLC now owns 205,041 shares of the financial services provider's stock worth $884,000 after acquiring an additional 42,197 shares in the last quarter. Samalin Investment Counsel LLC purchased a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $62,000. Modern Wealth Management LLC boosted its stake in shares of Prospect Capital by 9.3% in the fourth quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider's stock valued at $136,000 after purchasing an additional 2,774 shares during the period. Nomura Asset Management Co. Ltd. acquired a new stake in Prospect Capital during the 4th quarter valued at $44,000. Finally, DnB Asset Management AS increased its stake in Prospect Capital by 3.1% during the 4th quarter. DnB Asset Management AS now owns 383,942 shares of the financial services provider's stock worth $1,655,000 after buying an additional 11,648 shares during the period. Institutional investors and hedge funds own 9.06% of the company's stock.

Prospect Capital Stock Performance

Prospect Capital stock traded down $0.01 during midday trading on Thursday, reaching $3.47. 1,092,965 shares of the stock traded hands, compared to its average volume of 2,884,590. Prospect Capital Corporation has a fifty-two week low of $3.10 and a fifty-two week high of $5.58. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -4.03 and a beta of 0.83. The firm has a fifty day moving average price of $3.32 and a two-hundred day moving average price of $3.81.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.14 by $0.05. The business had revenue of $170.72 million for the quarter, compared to analysts' expectations 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 business also recently disclosed a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.045 per share. This represents a dividend yield of 16.46%. The ex-dividend date of this dividend was Wednesday, May 28th. Prospect Capital's dividend payout ratio is presently -62.79%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PSEC shares. Wells Fargo & Company dropped their target price on 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 raised shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th.

Insider Activity

In related 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 acquired at an average price of $3.16 per share, for a total transaction of $1,008,040.00. Following the transaction, the chief executive officer directly owned 83,585,026 shares of the company's stock, valued at $264,128,682.16. This trade represents a 0.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 28.25% of the stock is owned by company insiders.

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.