Janney Montgomery Scott LLC Sells 2,490 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Janney Montgomery Scott LLC cut its stake in Prospect Capital Co. (NASDAQ:PSEC) by 19.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,118 shares of the financial services provider’s stock after selling 2,490 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Prospect Capital were worth $44,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. MWA Asset Management bought a new stake in shares of Prospect Capital during the third quarter worth $53,000. Global Assets Advisory LLC bought a new stake in shares of Prospect Capital during the third quarter worth $64,000. Captrust Financial Advisors lifted its position in shares of Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Prospect Capital during the fourth quarter worth $79,000. Finally, XTX Topco Ltd bought a new stake in shares of Prospect Capital during the third quarter worth $88,000. 9.06% of the stock is currently owned by institutional investors.

Insider Activity at Prospect Capital

In related news, COO M Grier Eliasek bought 210,000 shares of the business’s stock in a transaction on Friday, November 29th. The shares were bought at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the purchase, the chief operating officer now directly owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. This trade represents a 10.93 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John F. Barry bought 2,000,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was bought at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the purchase, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 5,067,273 shares of company stock worth $22,795,460 over the last three months. 27.10% of the stock is owned by corporate insiders.

Prospect Capital Stock Performance

PSEC stock opened at $4.36 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The business has a 50-day moving average price of $4.32 and a 200 day moving average price of $4.81. The company has a market capitalization of $1.90 billion, a P/E ratio of -16.77 and a beta of 0.99. Prospect Capital Co. has a 1-year low of $4.09 and a 1-year high of $5.86.

Prospect Capital Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, February 26th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. Prospect Capital’s payout ratio is currently -207.69%.

Wall Street Analyst Weigh In

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

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.