Prospect Capital Co. (NASDAQ:PSEC) Shares Sold by Inspire Advisors LLC

Inspire Advisors LLC decreased its position in Prospect Capital Co. (NASDAQ:PSEC) by 32.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,130 shares of the financial services provider’s stock after selling 7,241 shares during the period. Inspire Advisors LLC’s holdings in Prospect Capital were worth $81,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in Prospect Capital in the 2nd quarter valued at approximately $27,000. Headlands Technologies LLC increased its position in Prospect Capital by 2,266.9% during the 1st 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 acquired a new position in Prospect Capital in the 1st quarter valued at about $55,000. Cutter & CO Brokerage Inc. acquired a new stake in shares of Prospect Capital during the 1st quarter worth about $65,000. Finally, Empowered Funds LLC purchased a new stake in shares of Prospect Capital during the first quarter worth about $73,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th. StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th.

Prospect Capital Stock Up 0.4 %

Shares of PSEC opened at $5.30 on Monday. The firm has a market cap of $2.29 billion, a PE ratio of 15.14 and a beta of 1.00. 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 $5.21 and its two-hundred day moving average is $5.38. Prospect Capital Co. has a fifty-two week low of $4.69 and a fifty-two week high of $6.30.

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, topping the consensus estimate of $0.18 by $0.07. The company had revenue of $212.26 million during 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 company earned $0.23 earnings per share.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.06 per share. The ex-dividend date is Tuesday, October 29th. This represents a $0.72 dividend on an annualized basis and a yield of 13.58%. Prospect Capital’s dividend payout ratio (DPR) is 205.71%.

About Prospect Capital

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.