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

Naviter Wealth LLC reduced its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 27.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 496,290 shares of the financial services provider’s stock after selling 183,845 shares during the period. Naviter Wealth LLC’s holdings in Prospect Capital were worth $1,387,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PSEC. A4 Wealth Advisors LLC acquired a new position in shares of Prospect Capital in the 3rd quarter valued at $34,000. Private Trust Co. NA lifted its stake in Prospect Capital by 38.5% in the second quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock valued at $37,000 after buying an additional 3,238 shares during the period. Foundations Investment Advisors LLC bought a new position in Prospect Capital during the second quarter worth about $38,000. Significant Wealth Partners LLC grew its position in shares of Prospect Capital by 59.1% during the 3rd quarter. Significant Wealth Partners LLC now owns 17,947 shares of the financial services provider’s stock worth $49,000 after buying an additional 6,664 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $51,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PSEC has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Prospect Capital has a consensus rating of “Sell” and an average target price of $2.50.

Insider Activity at Prospect Capital

In other news, COO M Grier Eliasek acquired 942,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was acquired at an average cost of $2.92 per share, for a total transaction of $2,752,976.00. Following the completion of the acquisition, the chief operating officer owned 3,443,930 shares in the company, valued at $10,056,275.60. This represents a 37.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 27.98% of the stock is currently owned by company insiders.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $3.05 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.22 and a current ratio of 0.74. Prospect Capital Corporation has a 52 week low of $2.45 and a 52 week high of $4.47. The company’s 50 day moving average price is $2.70 and its two-hundred day moving average price is $2.74. The company has a market capitalization of $1.47 billion, a P/E ratio of -3.77 and a beta of 0.90.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 company had revenue of $176.00 million during the quarter, compared to the consensus estimate of $156.34 million.

Prospect Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, April 28th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a c) annualized dividend and a dividend yield of 17.7%. Prospect Capital’s dividend payout ratio (DPR) is currently -66.67%.

Prospect Capital 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.