J.W. Cole Advisors Inc. Purchases 3,877 Shares of Prospect Capital Co. (NASDAQ:PSEC)

J.W. Cole Advisors Inc. increased its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 18.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 25,424 shares of the financial services provider’s stock after acquiring an additional 3,877 shares during the period. J.W. Cole Advisors Inc.’s holdings in Prospect Capital were worth $136,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in shares of 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 worth $40,085,000 after acquiring an additional 368,412 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Prospect Capital by 303.6% during 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 acquiring an additional 3,808,560 shares in the last quarter. XML Financial LLC raised its stake in shares of Prospect Capital by 10.4% during the 2nd quarter. XML Financial LLC now owns 1,891,268 shares of the financial services provider’s stock worth $10,459,000 after acquiring an additional 178,330 shares in the last quarter. International Assets Investment Management LLC increased its stake in Prospect Capital by 344.0% during the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after purchasing an additional 722,925 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Prospect Capital by 59.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock valued at $2,177,000 after purchasing an additional 147,460 shares in the last quarter. Institutional investors own 9.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSEC shares. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company cut their price target 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.

Prospect Capital Stock Down 1.2 %

PSEC stock opened at $5.13 on Friday. The firm’s fifty day simple moving average is $5.27 and its 200-day simple moving average is $5.37. The company has a market capitalization of $2.22 billion, a P/E ratio of 14.66 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.93. Prospect Capital Co. has a 12 month low of $4.69 and a 12 month high of $6.30.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data 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. The business had revenue of $212.26 million for the quarter. Prospect Capital had a net margin of 28.07% and a return on equity of 13.53%. During the same period last year, the company earned $0.23 earnings per share.

Prospect Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 14.04%. The ex-dividend date is Tuesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is presently 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.