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

Creative Planning reduced its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 168,803 shares of the financial services provider’s stock after selling 7,150 shares during the period. Creative Planning’s holdings in Prospect Capital were worth $903,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSEC. Van ECK Associates Corp boosted its holdings in shares of Prospect Capital by 5.4% in the second quarter. Van ECK Associates Corp now owns 7,248,573 shares of the financial services provider’s stock valued at $40,085,000 after acquiring an additional 368,412 shares in the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Prospect Capital by 303.6% in the second quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock valued at $29,064,000 after acquiring an additional 3,808,560 shares in the last quarter. XML Financial LLC boosted its holdings in shares of Prospect Capital by 10.4% in the second quarter. XML Financial LLC now owns 1,891,268 shares of the financial services provider’s stock valued at $10,459,000 after acquiring an additional 178,330 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Prospect Capital by 59.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock valued at $2,177,000 after acquiring an additional 147,460 shares in the last quarter. Finally, TrueMark Investments LLC acquired a new stake in shares of Prospect Capital in the second quarter valued at about $2,107,000. 9.06% of the stock is owned by hedge funds and other institutional investors.

Prospect Capital Stock Down 1.2 %

Shares of NASDAQ 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 firm has a 50-day moving average price of $5.27 and a 200 day moving average price of $5.37. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 14.66 and a beta of 1.00.

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

Prospect Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 14.04%. The ex-dividend date of this dividend is Tuesday, October 29th. Prospect Capital’s payout ratio is currently 205.71%.

Wall Street Analyst Weigh In

Several analysts recently commented on PSEC shares. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced 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.