D.A. Davidson & CO. Boosts Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

D.A. Davidson & CO. lifted its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 2.6% in the third quarter, Holdings Channel reports. The institutional investor owned 299,078 shares of the financial services provider’s stock after buying an additional 7,641 shares during the quarter. D.A. Davidson & CO.’s holdings in Prospect Capital were worth $1,600,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rothschild Investment LLC bought a new stake in shares of Prospect Capital in the 2nd quarter worth about $27,000. MWA Asset Management acquired a new position in Prospect Capital during the 3rd quarter valued at approximately $53,000. Global Assets Advisory LLC bought a new position in shares of Prospect Capital during the third quarter worth about $64,000. Family Wealth Partners LLC bought a new stake in Prospect Capital in the 3rd quarter valued at about $74,000. Finally, Apeiron RIA LLC acquired a new position in Prospect Capital during the 2nd quarter valued at about $79,000. Institutional investors own 9.06% of the company’s stock.

Prospect Capital Stock Performance

Shares of PSEC opened at $4.78 on Friday. Prospect Capital Co. has a 52-week low of $4.15 and a 52-week high of $6.30. The firm has a market capitalization of $2.08 billion, a PE ratio of -18.38 and a beta of 1.00. The firm has a 50-day moving average price of $5.03 and a 200 day moving average price of $5.28. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%. The business had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 11.30%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s payout ratio is currently -207.69%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company cut their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th.

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry acquired 837,273 shares of the stock in a transaction dated Monday, November 18th. The shares were bought at an average price of $4.47 per share, with a total value of $3,742,610.31. Following the purchase, the chief executive officer now directly owns 73,450,112 shares of the company’s stock, valued at approximately $328,322,000.64. This trade represents a 1.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders have acquired 3,063,173 shares of company stock worth $14,111,320. 27.10% of the stock is owned by corporate 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.