Inspire Advisors LLC Decreases Stake in Prospect Capital Co. (NASDAQ:PSEC)

Inspire Advisors LLC lessened its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,333 shares of the financial services provider’s stock after selling 2,546 shares during the quarter. Inspire Advisors LLC’s holdings in Prospect Capital were worth $118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Strategies Wealth Advisors LLC boosted its position in Prospect Capital by 6.6% during the 1st quarter. Strategies Wealth Advisors LLC now owns 30,621 shares of the financial services provider’s stock valued at $169,000 after buying an additional 1,902 shares during the period. Roman Butler Fullerton & Co. lifted its holdings in Prospect Capital by 3.6% in the 4th quarter. Roman Butler Fullerton & Co. now owns 56,191 shares of the financial services provider’s stock worth $348,000 after buying an additional 1,957 shares during the period. Truist Financial Corp grew its position in shares of Prospect Capital by 1.0% in the 4th quarter. Truist Financial Corp now owns 193,060 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 2,000 shares during the last quarter. Zimmermann Investment Management & Planning LLC increased its stake in shares of Prospect Capital by 11.2% during the fourth quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock valued at $120,000 after buying an additional 2,024 shares during the period. Finally, Ausdal Financial Partners Inc. raised its holdings in shares of Prospect Capital by 9.6% during the fourth quarter. Ausdal Financial Partners Inc. now owns 29,254 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 2,573 shares in the last quarter. Institutional investors own 9.06% of the company’s stock.

Prospect Capital Price Performance

NASDAQ:PSEC opened at $5.60 on Wednesday. Prospect Capital Co. has a 1-year low of $5.03 and a 1-year high of $6.69. The company has a market capitalization of $2.34 billion, a PE ratio of 16.47 and a beta of 1.01. The firm’s 50-day moving average price is $5.57 and its 200-day moving average price is $5.62. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 0.72.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. The business had revenue of $202.22 million during the quarter, compared to the consensus estimate of $214.70 million.

Prospect Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be paid a $0.06 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 12.86%. Prospect Capital’s dividend payout ratio is currently 211.76%.

Insider Activity

In other news, CFO Dask Kristin Lea Van purchased 3,330 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were bought at an average price of $22.50 per share, for a total transaction of $74,925.00. Following the purchase, the chief financial officer now directly owns 4,539 shares in the company, valued at approximately $102,127.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 26.69% of the company’s stock.

Wall Street Analysts Forecast Growth

PSEC has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, May 16th. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Thursday, June 27th.

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.