Kestra Private Wealth Services LLC Reduces Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

Kestra Private Wealth Services LLC cut its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,227 shares of the financial services provider’s stock after selling 8,679 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Prospect Capital were worth $1,391,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSEC. Roman Butler Fullerton & Co. grew its position in shares of Prospect Capital by 3.6% in the 4th quarter. Roman Butler Fullerton & Co. now owns 56,191 shares of the financial services provider’s stock worth $348,000 after acquiring an additional 1,957 shares in the last quarter. Truist Financial Corp boosted its position in Prospect Capital by 1.0% during the 4th quarter. Truist Financial Corp now owns 193,060 shares of the financial services provider’s stock valued at $1,156,000 after purchasing an additional 2,000 shares during the period. Zimmermann Investment Management & Planning LLC boosted its position in Prospect Capital by 11.2% during the 4th quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 2,024 shares during the period. Spire Wealth Management boosted its position in Prospect Capital by 5.7% during the 3rd quarter. Spire Wealth Management now owns 39,900 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 2,161 shares during the period. Finally, Triumph Capital Management boosted its position in Prospect Capital by 3.3% during the 3rd quarter. Triumph Capital Management now owns 77,291 shares of the financial services provider’s stock valued at $472,000 after purchasing an additional 2,438 shares during the period. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Dask Kristin Lea Van acquired 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares in the company, valued at $54,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 26.69% of the stock is owned by corporate insiders.

Prospect Capital Trading Up 0.2 %

Shares of PSEC stock opened at $5.23 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07. Prospect Capital Co. has a 1 year low of $5.03 and a 1 year high of $6.69. The stock has a fifty day moving average of $5.46 and a two-hundred day moving average of $5.69. The firm has a market capitalization of $2.17 billion, a PE ratio of -26.15 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Thursday, February 8th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. The business had revenue of $210.94 million during the quarter, compared to analysts’ expectations of $226.14 million. Prospect Capital had a positive return on equity of 13.48% and a negative net margin of 1.47%. As a group, research analysts expect that Prospect Capital Co. will post 0.82 EPS for the current year.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, May 21st. Investors of record on Friday, April 26th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 13.77%. The ex-dividend date of this dividend is Thursday, April 25th. Prospect Capital’s payout ratio is presently -359.98%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Wells Fargo & Company boosted their price objective on Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research report on Monday, January 29th.

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.