XML Financial LLC Sells 1,098,442 Shares of Prospect Capital Co. (NASDAQ:PSEC)

22 Jan 2025, 13:18 by Tristan Rich · The Markets Daily

XML Financial LLC lessened its holdings in Prospect Capital Co. (NASDAQ:PSEC – Free Report) by 53.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 946,006 shares of the financial services provider’s stock after selling 1,098,442 shares during the quarter. XML Financial LLC’s holdings in Prospect Capital were worth $4,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sheaff Brock Investment Advisors LLC boosted its stake in Prospect Capital by 7.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider’s stock valued at $157,000 after buying an additional 2,010 shares during the last quarter. Strategies Wealth Advisors LLC raised its holdings in shares of Prospect Capital by 7.2% during the 3rd quarter. Strategies Wealth Advisors LLC now owns 33,957 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 2,277 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,686 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Prospect Capital by 18.0% in the third quarter. J.W. Cole Advisors Inc. now owns 25,424 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 3,877 shares in the last quarter. Finally, Barrett & Company Inc. increased its position in Prospect Capital by 14.5% in the third quarter. Barrett & Company Inc. now owns 50,775 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 6,425 shares during the last quarter. 9.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

View Our Latest Research Report on Prospect Capital

Insider Buying and Selling

In related news, COO M Grier Eliasek purchased 210,000 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the acquisition, the chief operating officer now owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. This trade represents a 10.93 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John F. Barry purchased 2,000,000 shares of Prospect Capital stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average cost of $4.29 per share, for a total transaction of $8,580,000.00. Following the purchase, the chief executive officer now directly owns 79,477,549 shares in the company, valued at $340,958,685.21. This trade represents a 2.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 5,273,173 shares of company stock valued at $23,701,420. Company insiders own 27.10% of the company’s stock.

Prospect Capital Stock Up 1.4 %

Shares of PSEC stock opened at $4.39 on Wednesday. Prospect Capital Co. has a 1 year low of $4.09 and a 1 year high of $6.25. The stock’s 50 day simple moving average is $4.42 and its two-hundred day simple moving average is $4.95. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48.

Prospect Capital (NASDAQ:PSEC – Get Free Report) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $196.31 million for the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be issued a $0.045 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 annualized dividend and a dividend yield of 12.30%. Prospect Capital’s dividend payout ratio (DPR) is presently -207.69%.

Prospect Capital Company Profile

(Free Report)