Naviter Wealth LLC Sells 183,845 Shares of Prospect Capital Corporation $PSEC

Naviter Wealth LLC decreased its holdings in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 27.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 496,290 shares of the financial services provider’s stock after selling 183,845 shares during the quarter. Naviter Wealth LLC owned about 0.11% of Prospect Capital worth $1,387,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSEC. Goldman Sachs Group Inc. lifted its holdings in shares of Prospect Capital by 29.3% during the first quarter. Goldman Sachs Group Inc. now owns 393,034 shares of the financial services provider’s stock worth $1,611,000 after buying an additional 89,139 shares during the last quarter. Empowered Funds LLC increased its position in Prospect Capital by 140.0% during the first quarter. Empowered Funds LLC now owns 88,397 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 51,562 shares during the period. Blair William & Co. IL raised its stake in Prospect Capital by 17.3% during the 2nd quarter. Blair William & Co. IL now owns 53,473 shares of the financial services provider’s stock valued at $170,000 after purchasing an additional 7,873 shares during the last quarter. IFP Advisors Inc boosted its holdings in Prospect Capital by 2,609.2% in the 2nd quarter. IFP Advisors Inc now owns 20,319 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 19,569 shares during the period. Finally, CWM LLC grew its position in Prospect Capital by 2,528.4% in the 2nd quarter. CWM LLC now owns 18,241 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 17,547 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PSEC shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Wall Street Zen downgraded Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Prospect Capital has a consensus rating of “Sell” and a consensus price target of $2.50.

Prospect Capital Trading Up 5.5%

PSEC opened at $3.05 on Friday. Prospect Capital Corporation has a 1-year low of $2.45 and a 1-year high of $4.47. The firm has a 50-day moving average price of $2.70 and a two-hundred day moving average price of $2.74. The stock has a market capitalization of $1.47 billion, a PE ratio of -3.77 and a beta of 0.90. The company has a current ratio of 0.74, a quick ratio of 1.22 and a debt-to-equity ratio of 0.62.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Monday, February 9th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.10 by $0.09. Prospect Capital had a negative net margin of 39.56% and a positive return on equity of 11.91%. The business had revenue of $176.00 million for the quarter, compared to analysts’ expectations of $156.34 million.

Prospect Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, April 28th will be given a dividend of $0.045 per share. The ex-dividend date is Tuesday, April 28th. This represents a c) dividend on an annualized basis and a dividend yield of 17.7%. Prospect Capital’s payout ratio is presently -66.67%.

Insider Activity

In other news, COO M Grier Eliasek purchased 942,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were acquired at an average price of $2.92 per share, for a total transaction of $2,752,976.00. Following the completion of the acquisition, the chief operating officer directly owned 3,443,930 shares in the company, valued at approximately $10,056,275.60. The trade was a 37.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 27.98% of the stock is owned by company insiders.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.