Mercer Global Advisors Inc. ADV Has $92,000 Position in Prospect Capital Co. (NASDAQ:PSEC)

Mercer Global Advisors Inc. ADV reduced its position in Prospect Capital Co. (NASDAQ:PSEC) by 46.9% in the 4th quarter, Holdings Channel reports. The firm owned 21,458 shares of the financial services provider’s stock after selling 18,990 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Prospect Capital were worth $92,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. bought a new position in shares of Prospect Capital during the fourth quarter valued at $44,000. Centurion Wealth Management LLC bought a new position in shares of Prospect Capital during the fourth quarter valued at $46,000. Envision Financial Planning LLC bought a new position in shares of Prospect Capital during the fourth quarter valued at $56,000. PFG Advisors bought a new position in shares of Prospect Capital during the fourth quarter valued at $57,000. Finally, Independent Advisor Alliance bought a new position in shares of Prospect Capital during the fourth quarter valued at $62,000. 9.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSEC has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on Prospect Capital from $3.50 to $3.00 and set an “underweight” rating for the company in a research note on Monday, May 12th. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Saturday, April 12th.

Insider Buying and Selling

In other news, CEO John F. Barry acquired 2,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was purchased at an average cost of $4.32 per share, for a total transaction of $8,640,000.00. Following the completion of the transaction, the chief executive officer now directly owns 81,501,933 shares in the company, valued at $352,088,350.56. This trade represents a 2.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William Gremp acquired 19,100 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased at an average price of $4.29 per share, with a total value of $81,939.00. Following the completion of the transaction, the director now owns 75,153 shares of the company’s stock, valued at approximately $322,406.37. This trade represents a 34.07% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,548,000 shares of company stock worth $10,970,715 over the last three months. 28.25% of the stock is currently owned by company insiders.

Prospect Capital Stock Performance

Shares of NASDAQ:PSEC opened at $3.69 on Friday. Prospect Capital Co. has a twelve month low of $3.39 and a twelve month high of $5.72. The firm has a market cap of $1.64 billion, a PE ratio of -18.45 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The business has a fifty day moving average of $3.80 and a 200-day moving average of $4.22.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.05. The firm had revenue of $170.72 million during the quarter, compared to analyst estimates of $174.29 million. Prospect Capital had a return on equity of 12.31% and a net margin of 1.18%.

Prospect Capital Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 28th will be given a $0.045 dividend. The ex-dividend date is Wednesday, May 28th. Prospect Capital’s payout ratio is -62.79%.

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.