Moloney Securities Asset Management LLC Reduces Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Moloney Securities Asset Management LLC cut its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 49.0% during the 4th quarter, Holdings Channel reports. The firm owned 26,761 shares of the financial services provider’s stock after selling 25,745 shares during the period. Moloney Securities Asset Management LLC’s holdings in Prospect Capital were worth $115,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PSEC. XML Financial LLC grew its holdings in Prospect Capital by 8.1% during the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after buying an additional 153,180 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Prospect Capital by 23.3% during the third quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock valued at $47,376,000 after acquiring an additional 1,690,290 shares during the last quarter. International Assets Investment Management LLC increased its position 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 worth $4,992,000 after purchasing an additional 722,925 shares in the last quarter. Navis Wealth Advisors LLC purchased a new position in Prospect Capital in the 4th quarter valued at about $263,000. Finally, CWM LLC grew its holdings in shares of Prospect Capital by 101.4% during the third quarter. CWM LLC now owns 19,310 shares of the financial services provider’s stock worth $103,000 after buying an additional 9,721 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Prospect Capital Trading Up 2.9 %

Shares of PSEC stock opened at $4.29 on Wednesday. Prospect Capital Co. has a 1-year low of $4.09 and a 1-year high of $5.86. The firm’s 50-day simple moving average is $4.33 and its 200-day simple moving average is $4.82. The firm has a market cap of $1.87 billion, a P/E ratio of -16.50 and a beta of 0.99. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48.

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $0.54 annualized dividend and a dividend yield of 12.59%. Prospect Capital’s dividend payout ratio is presently -207.69%.

Insider Transactions at Prospect Capital

In other Prospect Capital news, CEO John F. Barry purchased 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the acquisition, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. This represents a 2.58 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO M Grier Eliasek acquired 210,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were acquired at an average price of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the purchase, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at $10,250,735.30. This trade represents a 10.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 5,273,173 shares of company stock worth $23,701,420 in the last ninety days. Insiders own 27.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

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.