Creative Financial Designs Inc. ADV Lowers Stake in Prospect Capital Co. (NASDAQ:PSEC)

Creative Financial Designs Inc. ADV lowered its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 18.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,125 shares of the financial services provider’s stock after selling 3,452 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Prospect Capital were worth $97,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PSEC. Bank of Montreal Can lifted its holdings in Prospect Capital by 64.1% during the second quarter. Bank of Montreal Can now owns 2,894,500 shares of the financial services provider’s stock valued at $18,901,000 after purchasing an additional 1,131,000 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Prospect Capital in the second quarter worth $6,151,000. Virtus ETF Advisers LLC purchased a new position in shares of Prospect Capital in the second quarter worth $4,426,000. Marshall Wace LLP lifted its holdings in shares of Prospect Capital by 613.4% in the second quarter. Marshall Wace LLP now owns 294,781 shares of the financial services provider’s stock worth $1,925,000 after buying an additional 253,460 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new position in shares of Prospect Capital in the second quarter worth $1,035,000. 12.43% of the stock is currently owned by institutional investors and hedge funds.

Shares of PSEC opened at $6.55 on Friday. The company’s fifty day moving average is $6.55 and its 200 day moving average is $6.59. Prospect Capital Co. has a fifty-two week low of $5.70 and a fifty-two week high of $7.12. The stock has a market capitalization of $2.42 billion, a PE ratio of 7.74 and a beta of 0.75. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.25 and a current ratio of 1.25.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Tuesday, August 27th. The financial services provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). Prospect Capital had a return on equity of 9.36% and a net margin of 20.53%. The business had revenue of $164.40 million during the quarter, compared to the consensus estimate of $166.69 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, research analysts forecast that Prospect Capital Co. will post 0.74 earnings per share for the current year.

The firm also recently declared a — dividend, which was paid on Thursday, October 24th. Investors of record on Monday, September 30th were given a $0.06 dividend. This represents a yield of 11.3%. The ex-dividend date of this dividend was Friday, September 27th. Prospect Capital’s dividend payout ratio is presently 84.71%.

In other Prospect Capital news, CEO John F. Barry purchased 237,857 shares of Prospect Capital stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $6.34 per share, for a total transaction of $1,508,013.38. Following the completion of the transaction, the chief executive officer now owns 39,906,051 shares of the company’s stock, valued at approximately $253,004,363.34. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John F. Barry purchased 139,761 shares of Prospect Capital stock in a transaction that occurred on Thursday, August 29th. The stock was acquired at an average price of $6.40 per share, for a total transaction of $894,470.40. Following the transaction, the chief executive officer now directly owns 39,460,914 shares of the company’s stock, valued at approximately $252,549,849.60. The disclosure for this purchase can be found here. Insiders own 11.30% of the company’s stock.

Several equities analysts have recently commented on PSEC shares. TheStreet downgraded shares of Prospect Capital from a “b-” rating to a “c” rating in a report on Friday, September 13th. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. BidaskClub downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Finally, ValuEngine upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Prospect Capital has an average rating of “Sell” and a consensus price target of $6.00.

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.

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Institutional Ownership by Quarter for Prospect Capital (NASDAQ:PSEC)

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