JPMorgan Chase & Co. Sells 21,945 Shares of Prospect Capital Co. (NASDAQ:PSEC)

JPMorgan Chase & Co. lessened its stake in Prospect Capital Co. (NASDAQ:PSEC) by 24.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,854 shares of the financial services provider’s stock after selling 21,945 shares during the quarter. JPMorgan Chase & Co.’s holdings in Prospect Capital were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSEC. Legacy Wealth Management LLC MS purchased a new stake in Prospect Capital in the 3rd quarter worth $451,000. Virtu Financial LLC increased its holdings in shares of Prospect Capital by 175.2% in the third quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 103,679 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Prospect Capital in the third quarter worth about $1,199,000. XTX Topco Ltd bought a new position in Prospect Capital during the third quarter valued at approximately $88,000. Finally, Paloma Partners Management Co purchased a new position in Prospect Capital during the 3rd quarter valued at approximately $578,000. Institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Prospect Capital news, COO M Grier Eliasek purchased 210,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was purchased at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the purchase, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. The trade was a 10.93 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John F. Barry acquired 837,273 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average cost of $4.47 per share, for a total transaction of $3,742,610.31. Following the transaction, the chief executive officer now directly owns 73,450,112 shares in the company, valued at $328,322,000.64. The trade was a 1.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 5,273,173 shares of company stock worth $23,701,420 over the last three months. 27.10% of the stock is owned by insiders.

Prospect Capital Stock Performance

Shares of NASDAQ:PSEC opened at $4.25 on Thursday. The firm has a fifty day simple moving average of $4.41 and a two-hundred day simple moving average of $4.91. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $1.85 billion, a P/E ratio of -16.35 and a beta of 0.99. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $6.15.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 12.71%. Prospect Capital’s payout ratio is presently -207.69%.

Prospect Capital 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.