Moloney Securities Asset Management LLC Boosts Stock Position in Prospect Capital Corporation $PSEC

Moloney Securities Asset Management LLC increased its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 388.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 120,239 shares of the financial services provider’s stock after acquiring an additional 95,647 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Prospect Capital were worth $382,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. VSM Wealth Advisory LLC purchased a new stake in shares of Prospect Capital in the first quarter worth $25,000. American National Bank & Trust purchased a new stake in shares of Prospect Capital in the second quarter worth $32,000. Significant Wealth Partners LLC purchased a new stake in shares of Prospect Capital in the second quarter worth $36,000. Private Trust Co. NA raised its position in shares of Prospect Capital by 38.5% in the second quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,238 shares in the last quarter. Finally, Capital Advisors Ltd. LLC purchased a new stake in shares of Prospect Capital in the second quarter worth $39,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Stock Up 0.4%

Shares of NASDAQ:PSEC opened at $2.75 on Friday. The stock’s 50-day moving average price is $2.78 and its 200-day moving average price is $3.15. Prospect Capital Corporation has a 12-month low of $2.57 and a 12-month high of $5.41. The stock has a market capitalization of $1.28 billion, a P/E ratio of -2.05 and a beta of 0.85. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Prospect Capital had a positive return on equity of 12.14% and a negative net margin of 69.68%.The firm had revenue of $166.95 million for the quarter, compared to analysts’ expectations of $167.08 million.

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be paid a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a dividend yield of 19.6%. The ex-dividend date of this dividend is Wednesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is -40.30%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSEC. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a research note on Saturday. Wells Fargo & Company reduced their target price on Prospect Capital from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Thursday, August 28th. Finally, Wall Street Zen raised Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus price target of $2.50.

Insider Transactions at Prospect Capital

In related news, COO M Grier Eliasek acquired 370,000 shares of Prospect Capital stock in a transaction dated Thursday, September 25th. The shares were purchased at an average cost of $2.71 per share, with a total value of $1,002,700.00. Following the completion of the purchase, the chief operating officer owned 2,501,130 shares of the company’s stock, valued at $6,778,062.30. This represents a 17.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John F. Barry bought 925,000 shares of the company’s stock in a transaction dated Thursday, September 25th. The shares were purchased at an average price of $2.72 per share, with a total value of $2,516,000.00. Following the completion of the acquisition, the chief executive officer owned 86,067,158 shares of the company’s stock, valued at $234,102,669.76. This trade represents a 1.09% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 2,797,158 shares of company stock worth $7,485,119 over the last ninety days. Insiders own 27.98% of the company’s stock.

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.