Legacy Wealth Management LLC MS Takes Position in Prospect Capital Co. (NASDAQ:PSEC)

Legacy Wealth Management LLC MS bought a new stake in shares of Prospect Capital Co. (NASDAQ:PSEC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 84,316 shares of the financial services provider’s stock, valued at approximately $451,000.

Several other large investors have also recently modified their holdings of PSEC. XML Financial LLC boosted its holdings in Prospect Capital by 8.1% during the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after acquiring an additional 153,180 shares during the period. Van ECK Associates Corp lifted its stake in shares of Prospect Capital by 23.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after purchasing an additional 1,690,290 shares during the last quarter. Creative Planning lifted its stake in shares of Prospect Capital by 387.3% during the 2nd quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 139,842 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of Prospect Capital by 344.0% during the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after purchasing an additional 722,925 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Prospect Capital by 101.4% during the 3rd quarter. CWM LLC now owns 19,310 shares of the financial services provider’s stock worth $103,000 after purchasing an additional 9,721 shares during the last quarter. Institutional investors own 9.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PSEC. StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company reduced their target price 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.

Insider Transactions at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek purchased 210,000 shares of the 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 transaction, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at $10,250,735.30. This trade represents a 10.93 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John F. Barry bought 205,900 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $4.40 per share, for a total transaction of $905,960.00. Following the transaction, the chief executive officer now owns 72,612,839 shares of the company’s stock, valued at approximately $319,496,491.60. This represents a 0.28 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 3,273,173 shares of company stock worth $15,121,420 over the last quarter. 27.10% of the stock is currently owned by insiders.

Prospect Capital Stock Performance

Shares of PSEC stock traded down $0.04 during mid-day trading on Friday, reaching $4.44. The stock had a trading volume of 746,921 shares, compared to its average volume of 2,403,131. The business’s fifty day moving average is $4.88 and its 200-day moving average is $5.21. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -17.23 and a beta of 0.97. Prospect Capital Co. has a 1-year low of $4.15 and a 1-year high of $6.30.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $196.31 million for the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.16%. Prospect Capital’s payout ratio is -207.69%.

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.