Rockefeller Capital Management L.P. Sells 378,831 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Rockefeller Capital Management L.P. lessened its stake in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 88.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,358 shares of the financial services provider's stock after selling 378,831 shares during the period. Rockefeller Capital Management L.P.'s holdings in Prospect Capital were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PSEC. Concorde Asset Management LLC purchased a new stake in Prospect Capital during the 4th quarter valued at $126,000. CenterBook Partners LP purchased a new stake in shares of Prospect Capital during the 4th quarter valued at $442,000. Cerity Partners LLC acquired a new position in Prospect Capital during the 4th quarter valued at approximately $304,000. Envestnet Asset Management Inc. boosted its position in 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 last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in Prospect Capital during the 4th quarter worth about $792,000. Institutional investors own 9.06% of the company's stock.

Analyst Ratings Changes

PSEC has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company lowered their price target on Prospect Capital from $4.00 to $3.50 and set an "underweight" rating for the company in a report on Monday.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC traded down $0.02 during midday trading on Wednesday, reaching $3.57. 2,507,994 shares of the company were exchanged, compared to its average volume of 2,780,642. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.59 billion, a P/E ratio of -17.85 and a beta of 0.85. Prospect Capital Co. has a 1 year low of $3.39 and a 1 year high of $5.72. The stock has a fifty day simple moving average of $3.98 and a 200 day simple moving average of $4.36.

Prospect Capital Announces Dividend

The company also recently announced a dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.045 per share. This represents a dividend yield of 12.47%. The ex-dividend date of this dividend was Wednesday, February 26th. Prospect Capital's payout ratio is currently -270.00%.

Insider Buying and Selling at Prospect Capital

In related news, Director William Gremp bought 19,100 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was bought at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the purchase, the director now directly owns 75,153 shares in the company, valued at approximately $322,406.37. The trade was a 34.07 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John F. Barry acquired 240,000 shares of Prospect Capital stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $4.20 per share, with a total value of $1,008,000.00. Following the acquisition, the chief executive officer now directly owns 81,981,933 shares of the company's stock, valued at approximately $344,324,118.60. This trade represents a 0.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,548,000 shares of company stock valued at $10,970,715 over the last three months. 28.25% of the stock is owned by company insiders.

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.