Wedbush Securities Inc. trimmed its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,591 shares of the financial services provider’s stock after selling 2,607 shares during the quarter. Wedbush Securities Inc.’s holdings in Prospect Capital were worth $474,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV acquired a new stake in Prospect Capital in the first quarter valued at approximately $63,000. Virtu Financial LLC acquired a new stake in Prospect Capital in the first quarter valued at approximately $420,000. Flagship Harbor Advisors LLC grew its holdings in Prospect Capital by 66.2% in the first quarter. Flagship Harbor Advisors LLC now owns 5,752 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 2,291 shares during the period. Eagle Global Advisors LLC grew its holdings in Prospect Capital by 114.3% in the first quarter. Eagle Global Advisors LLC now owns 64,620 shares of the financial services provider’s stock valued at $421,000 after purchasing an additional 34,470 shares during the period. Finally, Trinity Legacy Partners LLC acquired a new stake in Prospect Capital in the first quarter valued at approximately $83,000. 12.21% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on PSEC. National Securities reissued a “sell” rating and issued a $4.00 price objective on shares of Prospect Capital in a report on Monday, May 13th. Zacks Investment Research raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Wednesday, July 10th. BidaskClub raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. ValuEngine downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, TheStreet upgraded Prospect Capital from a “f” rating to a “b-” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company presently has a consensus rating of “Sell” and an average price target of $6.00.
NASDAQ PSEC opened at $6.53 on Friday. The company has a market cap of $2.36 billion, a PE ratio of 7.31 and a beta of 0.73. The stock’s 50 day simple moving average is $6.60 and its 200-day simple moving average is $6.62. Prospect Capital Co. has a 1-year low of $5.70 and a 1-year high of $7.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.59 and a quick ratio of 0.59.
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.
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