Prospect Capital Corporation $PSEC Stock Holdings Lessened by Caxton Associates LLP

Caxton Associates LLP lessened its stake in shares of Prospect Capital Corporation (NASDAQ:PSEC) by 81.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 133,523 shares of the financial services provider’s stock after selling 576,730 shares during the period. Caxton Associates LLP’s holdings in Prospect Capital were worth $348,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Marshall Wace LLP grew its holdings in shares of Prospect Capital by 70.7% in the 3rd quarter. Marshall Wace LLP now owns 6,668,376 shares of the financial services provider’s stock worth $18,338,000 after acquiring an additional 2,761,351 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Prospect Capital by 356.3% during the third quarter. Millennium Management LLC now owns 6,231,987 shares of the financial services provider’s stock valued at $17,138,000 after purchasing an additional 4,866,312 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Prospect Capital by 73.9% in the 2nd quarter. Balyasny Asset Management L.P. now owns 5,661,121 shares of the financial services provider’s stock valued at $18,002,000 after purchasing an additional 2,405,299 shares during the period. UBS Group AG boosted its position in shares of Prospect Capital by 44.5% in the 4th quarter. UBS Group AG now owns 4,989,986 shares of the financial services provider’s stock valued at $12,924,000 after purchasing an additional 1,536,808 shares during the period. Finally, Two Sigma Investments LP increased its stake in Prospect Capital by 99.9% in the 3rd quarter. Two Sigma Investments LP now owns 4,096,924 shares of the financial services provider’s stock worth $11,267,000 after purchasing an additional 2,047,189 shares in the last quarter. 9.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry bought 1,067,648 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were bought at an average price of $2.27 per share, for a total transaction of $2,423,560.96. Following the acquisition, the chief executive officer directly owned 89,213,725 shares of the company’s stock, valued at approximately $202,515,155.75. This trade represents a 1.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 2,732,648 shares of company stock worth $6,216,361. Insiders own 0.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PSEC shares. Wells Fargo & Company cut their price objective on Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings raised shares of Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell” and an average target price of $2.00.

Prospect Capital Price Performance

PSEC opened at $2.23 on Wednesday. The firm has a market capitalization of $1.12 billion, a P/E ratio of -6.03 and a beta of 0.78. The stock has a fifty day moving average of $2.26 and a 200-day moving average of $2.54. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Prospect Capital Corporation has a 12-month low of $2.11 and a 12-month high of $3.37.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The business had revenue of $150.07 million for the quarter, compared to the consensus estimate of $163.23 million. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 27th will be paid a dividend of $0.035 per share. This represents a c) annualized dividend and a yield of 18.8%. The ex-dividend date of this dividend is Thursday, August 27th. Prospect Capital’s payout ratio is -113.51%.

About Prospect Capital

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.