DnB Asset Management AS decreased its position in shares of Prospect Capital Co. (NASDAQ:PSEC – Get Rating) by 18.8% during the second quarter, HoldingsChannel reports. The fund owned 223,738 shares of the financial services provider’s stock after selling 51,835 shares during the quarter. DnB Asset Management AS’s holdings in Prospect Capital were worth $1,568,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Integral Investment Advisors Inc. bought a new position in shares of Prospect Capital in the first quarter worth about $38,000. Cary Street Partners Investment Advisory LLC bought a new position in shares of Prospect Capital in the fourth quarter worth about $51,000. Archer Investment Corp grew its holdings in shares of Prospect Capital by 100.0% in the first quarter. Archer Investment Corp now owns 10,000 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 5,000 shares during the last quarter. Running Point Capital Advisors LLC bought a new position in shares of Prospect Capital in the first quarter worth about $83,000. Finally, Commerce Bank bought a new position in shares of Prospect Capital in the first quarter worth about $85,000. 7.50% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Separately, TheStreet cut shares of Prospect Capital from a “b” rating to a “c+” rating in a report on Tuesday, July 26th.
Prospect Capital Stock Down 1.5 %
Prospect Capital (NASDAQ:PSEC – Get Rating) last released its quarterly earnings data on Monday, August 29th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. Prospect Capital had a net margin of 80.95% and a return on equity of 8.77%. During the same period last year, the firm earned $0.17 earnings per share. As a group, research analysts anticipate that Prospect Capital Co. will post 0.96 EPS for the current fiscal year.
Prospect Capital Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, October 27th will be paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.04%. The ex-dividend date is Wednesday, October 26th. Prospect Capital’s dividend payout ratio (DPR) is presently 49.66%.
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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