Advisors Asset Management Inc. Has $2.45 Million Position in Prospect Capital Co. (NASDAQ:PSEC)

Advisors Asset Management Inc. lessened its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 1.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 444,540 shares of the financial services provider’s stock after selling 5,825 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.11% of Prospect Capital worth $2,454,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSEC. Strategies Wealth Advisors LLC grew its position in shares of 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 worth $169,000 after buying an additional 1,902 shares during the period. Roman Butler Fullerton & Co. grew its position in shares of Prospect Capital by 3.6% during 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% during 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 period. Zimmermann Investment Management & Planning LLC grew its position in shares of Prospect Capital by 11.2% during the 4th quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock worth $120,000 after buying an additional 2,024 shares during the period. Finally, Private Trust Co. NA grew its position in shares of Prospect Capital by 54.3% during the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock worth $46,000 after buying an additional 2,722 shares during the period. Institutional investors and hedge funds own 9.06% of the company’s stock.

Insider Activity

In related news, CFO Dask Kristin Lea Van purchased 3,330 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were purchased at an average cost of $22.50 per share, for a total transaction of $74,925.00. Following the completion of the transaction, the chief financial officer now directly owns 4,539 shares in the company, valued at approximately $102,127.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 26.69% of the company’s stock.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC traded up $0.04 during mid-day trading on Friday, reaching $5.55. 1,988,022 shares of the company’s stock were exchanged, compared to its average volume of 1,532,357. Prospect Capital Co. has a 52 week low of $5.03 and a 52 week high of $6.60. The firm has a 50-day moving average price of $5.58 and a two-hundred day moving average price of $5.60. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 16.32 and a beta of 1.01. 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 quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. The business had revenue of $202.22 million for the quarter, compared to analysts’ expectations of $214.70 million.

Prospect Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 12.97%. The ex-dividend date of this dividend is Wednesday, August 28th. Prospect Capital’s dividend payout ratio is presently 211.76%.

Analysts Set New Price Targets

Several research firms recently issued reports on PSEC. StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating on the stock in a report on Thursday, May 16th.

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.