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

Traynor Capital Management Inc. cut its position in Prospect Capital Co. (NASDAQ:PSEC) by 26.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,560 shares of the financial services provider’s stock after selling 3,781 shares during the quarter. Traynor Capital Management Inc.’s holdings in Prospect Capital were worth $56,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its position in shares of Prospect Capital by 5.4% in the 2nd quarter. Van ECK Associates Corp now owns 7,248,573 shares of the financial services provider’s stock valued at $40,085,000 after purchasing an additional 368,412 shares during the period. Y.D. More Investments Ltd lifted its position in Prospect Capital by 303.6% during the 2nd quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock worth $29,064,000 after acquiring an additional 3,808,560 shares during the period. XML Financial LLC lifted its position in Prospect Capital by 10.4% during the 2nd quarter. XML Financial LLC now owns 1,891,268 shares of the financial services provider’s stock worth $10,459,000 after acquiring an additional 178,330 shares during the period. International Assets Investment Management LLC lifted its position in 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 acquiring an additional 722,925 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in Prospect Capital by 59.7% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 394,365 shares of the financial services provider’s stock worth $2,177,000 after acquiring an additional 147,460 shares during the period. 9.06% of the stock is owned by institutional investors and hedge funds.

Prospect Capital Stock Performance

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 company has a market capitalization of $2.26 billion, a P/E ratio of 15.35 and a beta of 1.00. The business has a 50 day moving average price of $5.26 and a 200 day moving average price of $5.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.93.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.07. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. The firm had revenue of $212.26 million during the quarter. During the same period in the previous year, the business earned $0.23 earnings per share.

Prospect Capital Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on PSEC shares. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company decreased their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th.

Prospect Capital 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.