US Bancorp DE Sells 50,000 Shares of Prospect Capital Co. (NASDAQ:PSEC)

US Bancorp DE trimmed its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 27.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 130,000 shares of the financial services provider’s stock after selling 50,000 shares during the quarter. US Bancorp DE’s holdings in Prospect Capital were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. MWA Asset Management bought a new stake in Prospect Capital during the 3rd quarter worth about $53,000. Cutter & CO Brokerage Inc. increased its stake in shares of Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 3,467 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Prospect Capital by 34.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,686 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Prospect Capital in the 4th quarter valued at about $79,000. Finally, XTX Topco Ltd bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $88,000. 9.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Prospect Capital Trading Down 1.1 %

NASDAQ:PSEC opened at $4.30 on Wednesday. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $5.72. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $4.32 and a two-hundred day moving average price of $4.72. The company has a market cap of $1.90 billion, a P/E ratio of -21.50 and a beta of 0.94.

Prospect Capital Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be paid a dividend of $0.045 per share. This represents a dividend yield of 12.47%. The ex-dividend date of this dividend is Wednesday, February 26th. Prospect Capital’s dividend payout ratio is currently -270.00%.

Insider Transactions at Prospect Capital

In other news, CEO John F. Barry acquired 2,000,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the transaction, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. This represents a 2.58 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.10% of the company’s stock.

Prospect Capital Company 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.