Mckinley Capital Management LLC Reduces Position in Prospect Capital Co. (NASDAQ:PSEC)

Mckinley Capital Management LLC trimmed its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 421,521 shares of the financial services provider’s stock after selling 5,133 shares during the quarter. Mckinley Capital Management LLC owned approximately 0.10% of Prospect Capital worth $2,525,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSEC. DNB Asset Management AS lifted its holdings in Prospect Capital by 19.8% during the 4th quarter. DNB Asset Management AS now owns 254,115 shares of the financial services provider’s stock valued at $1,522,000 after buying an additional 42,005 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Prospect Capital by 8.0% during the 3rd quarter. Van ECK Associates Corp now owns 4,884,389 shares of the financial services provider’s stock worth $29,551,000 after buying an additional 360,385 shares in the last quarter. Jump Financial LLC increased its stake in shares of Prospect Capital by 1,166.6% during the third quarter. Jump Financial LLC now owns 159,400 shares of the financial services provider’s stock valued at $964,000 after buying an additional 146,815 shares during the period. HighTower Advisors LLC raised its holdings in shares of Prospect Capital by 3.6% in the third quarter. HighTower Advisors LLC now owns 158,932 shares of the financial services provider’s stock valued at $961,000 after acquiring an additional 5,588 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Prospect Capital by 613.1% in the third quarter. PNC Financial Services Group Inc. now owns 111,012 shares of the financial services provider’s stock worth $672,000 after acquiring an additional 95,444 shares during the period. 9.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSEC has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Thursday, May 16th. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, April 26th.

Insider Activity

In other news, CFO Dask Kristin Lea Van acquired 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $5.44 per share, with a total value of $27,200.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $54,400. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 26.69% of the company’s stock.

Prospect Capital Price Performance

Shares of PSEC stock opened at $5.62 on Tuesday. The company has a market cap of $2.35 billion, a P/E ratio of 16.51 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50-day moving average is $5.44 and its 200 day moving average is $5.68. Prospect Capital Co. has a 1-year low of $5.03 and a 1-year high of $6.69.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be paid a dividend of $0.06 per share. The ex-dividend date is Wednesday, August 28th. This represents a $0.72 annualized dividend and a yield of 12.82%. Prospect Capital’s dividend payout ratio (DPR) is 211.76%.

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.