Creative Planning Lowers Position in Prospect Capital Co. (NASDAQ:PSEC)

Creative Planning trimmed its stake in Prospect Capital Co. (NASDAQ:PSEC) by 4.1% in the third quarter, Holdings Channel.com reports. The firm owned 168,803 shares of the financial services provider’s stock after selling 7,150 shares during the quarter. Creative Planning’s holdings in Prospect Capital were worth $903,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in Prospect Capital in the second quarter valued at approximately $27,000. Headlands Technologies LLC grew its holdings in Prospect Capital by 2,266.9% in the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 7,254 shares during the period. Empowered Funds LLC purchased a new stake in Prospect Capital in the first quarter valued at approximately $73,000. Family Wealth Partners LLC purchased a new stake in Prospect Capital in the third quarter valued at approximately $74,000. Finally, Apeiron RIA LLC purchased a new stake in Prospect Capital during the second quarter worth approximately $79,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Price Performance

PSEC opened at $5.13 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.66. Prospect Capital Co. has a 52-week low of $4.69 and a 52-week high of $6.30. The company has a 50 day moving average of $5.27 and a two-hundred day moving average of $5.37. The company has a market cap of $2.22 billion, a P/E ratio of 14.66 and a beta of 1.00.

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

Prospect Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, October 29th will be given 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 dividend yield of 14.04%. Prospect Capital’s payout ratio is currently 205.71%.

Analyst Upgrades and Downgrades

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

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.