ProShare Advisors LLC Lowers Stake in Prospect Capital Co. (NASDAQ:PSEC)

ProShare Advisors LLC trimmed its position in Prospect Capital Co. (NASDAQ:PSEC) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,209 shares of the financial services provider’s stock after selling 2,140 shares during the quarter. ProShare Advisors LLC’s holdings in Prospect Capital were worth $272,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Rothschild Investment LLC purchased a new stake in Prospect Capital during the 2nd quarter worth $27,000. Headlands Technologies LLC lifted its stake in shares of Prospect Capital by 2,266.9% during the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 7,254 shares in the last quarter. Edge Financial Advisors LLC purchased a new stake in shares of Prospect Capital in the first quarter worth about $55,000. Cutter & CO Brokerage Inc. acquired a new stake in shares of Prospect Capital in the first quarter valued at about $65,000. Finally, Empowered Funds LLC purchased a new stake in shares of Prospect Capital during the 1st quarter valued at about $73,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Trading Down 0.6 %

NASDAQ:PSEC opened at $5.25 on Friday. The stock has a market cap of $2.27 billion, a price-to-earnings ratio of 15.59 and a beta of 1.00. Prospect Capital Co. has a one year low of $4.69 and a one year high of $6.30. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.93. The business’s 50-day simple moving average is $5.22 and its 200 day simple moving average is $5.41.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.07. The company had revenue of $212.26 million for the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same quarter in the prior year, the firm earned $0.23 earnings per share.

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.72 dividend on an annualized basis and a yield of 13.71%. Prospect Capital’s dividend payout ratio (DPR) is 211.76%.

Wall Street Analyst Weigh In

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

Prospect Capital 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.