Prospect Capital Co. (NASDAQ:PSEC) Shares Sold by Traynor Capital Management Inc.

Traynor Capital Management Inc. decreased its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 26.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,560 shares of the financial services provider’s stock after selling 3,781 shares during the period. Traynor Capital Management Inc.’s holdings in Prospect Capital were worth $56,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN acquired a new position in Prospect Capital in the second quarter valued at $137,000. Kingsview Wealth Management LLC acquired a new position in Prospect Capital in the first quarter valued at $91,000. Envestnet Portfolio Solutions Inc. acquired a new position in Prospect Capital in the first quarter valued at $94,000. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Prospect Capital by 59.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock valued at $2,177,000 after acquiring an additional 147,460 shares during the last quarter. Finally, Creative Planning raised its position in Prospect Capital by 387.3% in the second quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after purchasing an additional 139,842 shares during the period. Institutional investors and hedge funds own 9.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on PSEC shares. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company cut their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

Prospect Capital Stock Down 2.1 %

Shares of NASDAQ PSEC opened at $5.22 on Wednesday. Prospect Capital Co. has a 1 year low of $4.69 and a 1 year high of $6.30. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 15.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.93. The stock’s 50-day simple moving average is $5.26 and its 200-day simple moving average is $5.37.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The business had revenue of $212.26 million for the quarter. During the same period in the previous year, the firm posted $0.23 earnings per share.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, October 29th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 13.79%. The ex-dividend date is Tuesday, October 29th. Prospect Capital’s payout ratio is 211.76%.

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.