Prospect Capital Corporation $PSEC Shares Sold by Two Sigma Securities LLC

Two Sigma Securities LLC lowered its holdings in Prospect Capital Corporation (NASDAQ:PSEC) by 89.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,198 shares of the financial services provider’s stock after selling 239,010 shares during the period. Two Sigma Securities LLC’s holdings in Prospect Capital were worth $67,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Independent Financial Group LLC acquired a new stake in Prospect Capital in the 1st quarter valued at approximately $8,644,000. Private Management Group Inc. increased its position in shares of Prospect Capital by 51.7% during the 2nd quarter. Private Management Group Inc. now owns 20,534,804 shares of the financial services provider’s stock valued at $47,435,000 after purchasing an additional 6,999,513 shares during the period. Van ECK Associates Corp raised its stake in shares of Prospect Capital by 32.7% in the 2nd quarter. Van ECK Associates Corp now owns 9,685,724 shares of the financial services provider’s stock worth $22,374,000 after buying an additional 2,388,990 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Prospect Capital in the second quarter valued at $9,336,000. Finally, Clear Harbor Asset Management LLC acquired a new stake in shares of Prospect Capital in the second quarter valued at $752,000. Institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSEC. Wall Street Zen lowered Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Wells Fargo & Company reduced their price objective on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, May 12th. Finally, Weiss Ratings cut shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, Prospect Capital has a consensus rating of “Sell” and an average price target of $2.00.

Prospect Capital Trading Up 1.8%

NASDAQ:PSEC opened at $2.23 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.64. Prospect Capital Corporation has a 1-year low of $2.11 and a 1-year high of $3.13. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 44.60 and a beta of 0.80. The stock has a fifty day simple moving average of $2.24 and a 200 day simple moving average of $2.44.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Thursday, August 20th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.04. Prospect Capital had a return on equity of 12.15% and a net margin of 19.33%.The firm had revenue of $155.76 million for the quarter, compared to the consensus estimate of $149.80 million.

Prospect Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, October 28th will be given a dividend of $0.035 per share. The ex-dividend date of this dividend is Wednesday, October 28th. This represents a c) dividend on an annualized basis and a yield of 18.8%. Prospect Capital’s dividend payout ratio (DPR) is presently 840.00%.

Insider Buying and Selling

In other news, CEO John Barry. III bought 1,067,648 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $2.27 per share, for a total transaction of $2,423,560.96. Following the completion of the purchase, the chief executive officer directly owned 89,213,725 shares of the company’s stock, valued at $202,515,155.75. This trade represents a 1.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is owned by company insiders.

Prospect Capital Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.