Janney Montgomery Scott LLC Reduces Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Janney Montgomery Scott LLC decreased its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 19.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,118 shares of the financial services provider’s stock after selling 2,490 shares during the period. Janney Montgomery Scott LLC’s holdings in Prospect Capital were worth $44,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MWA Asset Management purchased a new stake in shares of Prospect Capital during the third quarter worth about $53,000. Global Assets Advisory LLC purchased a new stake in shares of Prospect Capital during the third quarter worth about $64,000. Captrust Financial Advisors grew its stake in shares of Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 3,686 shares during the last quarter. Merit Financial Group LLC purchased a new stake in shares of Prospect Capital during the fourth quarter worth about $79,000. Finally, XTX Topco Ltd purchased a new stake in shares of Prospect Capital during the third quarter worth about $88,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Price Performance

Shares of NASDAQ PSEC opened at $4.36 on Friday. The business’s 50 day moving average price is $4.32 and its 200 day moving average price is $4.81. The firm has a market cap of $1.90 billion, a P/E ratio of -16.77 and a beta of 0.99. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.86. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, February 26th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. Prospect Capital’s payout ratio is presently -207.69%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek bought 210,000 shares of Prospect Capital stock in a transaction dated Friday, November 29th. The stock was acquired at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the purchase, the chief operating officer now directly owns 2,131,130 shares in the company, valued at $10,250,735.30. This represents a 10.93 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John F. Barry bought 837,273 shares of Prospect Capital stock in a transaction dated Monday, November 18th. The shares were acquired at an average cost of $4.47 per share, with a total value of $3,742,610.31. Following the completion of the purchase, the chief executive officer now owns 73,450,112 shares in the company, valued at approximately $328,322,000.64. This trade represents a 1.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 5,067,273 shares of company stock valued at $22,795,460. 27.10% of the stock is owned by company insiders.

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.