Prospect Capital Co. (NASDAQ:PSEC) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its position in Prospect Capital Co. (NASDAQ:PSEC) by 35.1% in the second quarter, Holdings Channel reports. The firm owned 35,867 shares of the financial services provider’s stock after selling 19,402 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Prospect Capital were worth $198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSEC. Y.D. More Investments Ltd grew its position in Prospect Capital by 303.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock worth $29,064,000 after purchasing an additional 3,808,560 shares during the last quarter. Ausdal Financial Partners Inc. increased its holdings in shares of Prospect Capital by 34.7% during the second quarter. Ausdal Financial Partners Inc. now owns 39,166 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 10,097 shares during the period. Midland Wealth Advisors LLC bought a new stake in shares of Prospect Capital during the second quarter valued at about $102,000. Spire Wealth Management lifted its holdings in Prospect Capital by 207.4% in the second quarter. Spire Wealth Management now owns 58,476 shares of the financial services provider’s stock worth $323,000 after purchasing an additional 39,455 shares during the period. Finally, Van ECK Associates Corp increased its stake in Prospect Capital by 5.4% during the 2nd quarter. Van ECK Associates Corp now owns 7,248,573 shares of the financial services provider’s stock valued at $40,085,000 after buying an additional 368,412 shares during the period. 9.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on PSEC shares. Wells Fargo & Company reduced their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, August 30th. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $5.34 on Wednesday. The company has a market cap of $2.23 billion, a P/E ratio of 15.71 and a beta of 1.00. Prospect Capital Co. has a 12-month low of $4.69 and a 12-month high of $6.30. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. The company’s fifty day moving average is $5.23 and its two-hundred day moving average is $5.41.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.18 by $0.07. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The business had revenue of $212.26 million during the quarter. During the same period in the previous year, the firm posted $0.23 EPS.

Prospect Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, October 29th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, October 29th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.48%. Prospect Capital’s payout ratio is presently 211.76%.

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.