Robeco Institutional Asset Management B.V. Cuts Holdings in Prospect Capital Co. (PSEC)

Robeco Institutional Asset Management B.V. reduced its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 66.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 80,048 shares of the financial services provider’s stock after selling 161,811 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Prospect Capital were worth $524,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wesbanco Bank Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $107,000. Kovack Advisors Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $111,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $130,000. Alpha Cubed Investments LLC purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $153,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $150,000. Institutional investors and hedge funds own 12.73% of the company’s stock.

A number of equities research analysts have recently issued reports on PSEC shares. BidaskClub lowered Prospect Capital from a “hold” rating to a “sell” rating in a research report on Monday, April 30th. ValuEngine lowered Prospect Capital from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded Prospect Capital from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a research report on Tuesday, May 15th. Finally, National Securities restated a “sell” rating and issued a $4.00 price target on shares of Prospect Capital in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.17.

In other Prospect Capital news, CEO John F. Barry acquired 63,295 shares of the stock in a transaction that occurred on Monday, March 19th. The stock was bought at an average cost of $6.50 per share, for a total transaction of $411,417.50. Following the completion of the transaction, the chief executive officer now owns 34,351,066 shares of the company’s stock, valued at approximately $223,281,929. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John F. Barry acquired 17,200 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was acquired at an average price of $6.50 per share, with a total value of $111,800.00. The disclosure for this purchase can be found here. Insiders purchased 443,224 shares of company stock valued at $2,915,694 over the last quarter. 7.10% of the stock is currently owned by company insiders.

PSEC stock opened at $6.83 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $2.49 billion, a PE ratio of 8.04 and a beta of 0.43. Prospect Capital Co. has a 1 year low of $5.51 and a 1 year high of $8.40.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Wednesday, May 9th. The financial services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The company had revenue of $162.84 million during the quarter, compared to analyst estimates of $153.08 million. Prospect Capital had a return on equity of 8.31% and a net margin of 36.39%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.20 earnings per share. equities research analysts predict that Prospect Capital Co. will post 0.76 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, September 20th. Investors of record on Friday, August 31st will be given a $0.06 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.72 annualized dividend and a yield of 10.54%. Prospect Capital’s payout ratio is 84.71%.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions.

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

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