HighTower Advisors LLC Sells 96,436 Shares of Prospect Capital Co. (NASDAQ:PSEC)

HighTower Advisors LLC lessened its position in shares of Prospect Capital Co. (NASDAQ:PSEC – Free Report) by 81.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,615 shares of the financial services provider’s stock after selling 96,436 shares during the quarter. HighTower Advisors LLC’s holdings in Prospect Capital were worth $120,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. XML Financial LLC grew its holdings in Prospect Capital by 8.1% in the third quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock worth $10,938,000 after purchasing an additional 153,180 shares during the last quarter. Van ECK Associates Corp grew its stake in Prospect Capital by 23.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after buying an additional 1,690,290 shares during the last quarter. Creative Planning increased its position in Prospect Capital by 387.3% during the 2nd quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after buying an additional 139,842 shares in the last quarter. International Assets Investment Management LLC raised its stake in Prospect Capital by 344.0% in the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after buying an additional 722,925 shares during the last quarter. Finally, CWM LLC boosted its holdings in Prospect Capital by 101.4% in the third quarter. CWM LLC now owns 19,310 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 9,721 shares in the last quarter. Institutional investors own 9.06% of the company’s stock.

Insider Activity

In other Prospect Capital news, CEO John F. Barry purchased 205,900 shares of the stock in a transaction on Friday, November 15th. The shares were bought at an average price of $4.40 per share, for a total transaction of $905,960.00. Following the completion of the transaction, the chief executive officer now owns 72,612,839 shares of the company’s stock, valued at $319,496,491.60. This trade represents a 0.28 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO M Grier Eliasek acquired 210,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was acquired at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the acquisition, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at $10,250,735.30. This trade represents a 10.93 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 3,273,173 shares of company stock valued at $15,121,420 in the last three months. 27.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PSEC has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, August 30th. StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Check Out Our Latest Research Report on Prospect Capital

Prospect Capital Stock Performance

Shares of PSEC stock opened at $4.33 on Friday. The business has a fifty day moving average of $4.71 and a 200 day moving average of $5.12. Prospect Capital Co. has a 1 year low of $4.09 and a 1 year high of $6.26. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -16.65 and a beta of 0.97.

Prospect Capital (NASDAQ:PSEC – Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.47%. Prospect Capital’s payout ratio is -207.69%.

About Prospect Capital

(Free Report)

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.

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