Oppenheimer & Co. Inc. cut its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,361 shares of the financial services provider’s stock after selling 3,632 shares during the period. Oppenheimer & Co. Inc.’s holdings in Prospect Capital were worth $174,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Marshall Wace LLP purchased a new stake in shares of Prospect Capital during the first quarter valued at $269,000. DNB Asset Management AS grew its holdings in shares of Prospect Capital by 2.0% during the second quarter. DNB Asset Management AS now owns 160,800 shares of the financial services provider’s stock worth $1,050,000 after buying an additional 3,200 shares in the last quarter. Unigestion Holding SA purchased a new stake in shares of Prospect Capital during the second quarter worth $1,003,000. KG&L Capital Management LLC purchased a new stake in shares of Prospect Capital during the second quarter worth $76,000. Finally, Archford Capital Strategies LLC grew its holdings in shares of Prospect Capital by 16.8% during the second quarter. Archford Capital Strategies LLC now owns 69,581 shares of the financial services provider’s stock worth $454,000 after buying an additional 10,000 shares in the last quarter. Institutional investors own 12.39% of the company’s stock.
In related news, CEO John F. Barry bought 139,761 shares of Prospect Capital stock in a transaction dated Thursday, August 29th. The stock was acquired at an average cost of $6.40 per share, with a total value of $894,470.40. Following the completion of the acquisition, the chief executive officer now directly owns 39,460,914 shares in the company, valued at approximately $252,549,849.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John F. Barry bought 237,857 shares of Prospect Capital stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $6.34 per share, with a total value of $1,508,013.38. Following the completion of the acquisition, the chief executive officer now owns 39,906,051 shares of the company’s stock, valued at $253,004,363.34. The disclosure for this purchase can be found here. Insiders own 11.30% of the company’s stock.
Shares of NASDAQ PSEC traded down $0.03 during mid-day trading on Wednesday, hitting $6.49. 24,423 shares of the company were exchanged, compared to its average volume of 1,595,835. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.68. The stock has a 50 day simple moving average of $6.51 and a 200-day simple moving average of $6.58. Prospect Capital Co. has a 1-year low of $5.70 and a 1-year high of $7.00. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 7.64 and a beta of 0.76.
Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.14). Prospect Capital had a net margin of 11.49% and a return on equity of 9.05%. The business had revenue of $161.88 million during the quarter, compared to analyst estimates of $162.98 million. During the same period last year, the business posted $0.23 EPS. Analysts anticipate that Prospect Capital Co. will post 0.74 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, December 19th. Investors of record on Friday, November 29th will be given a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 11.09%. The ex-dividend date is Wednesday, November 27th. Prospect Capital’s dividend payout ratio (DPR) is presently 84.71%.
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.
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