Van ECK Associates Corp Has $47.38 Million Position in Prospect Capital Co. (NASDAQ:PSEC)

Van ECK Associates Corp increased its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 23.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,938,863 shares of the financial services provider's stock after purchasing an additional 1,690,290 shares during the quarter. Van ECK Associates Corp owned 2.06% of Prospect Capital worth $47,376,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSEC. Rothschild Investment LLC bought a new position in Prospect Capital in the second quarter valued at $27,000. Headlands Technologies LLC increased its position in shares of Prospect Capital by 2,266.9% in the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 7,254 shares during the last quarter. Global Assets Advisory LLC bought a new stake in Prospect Capital during the third quarter worth about $64,000. Empowered Funds LLC acquired a new position in Prospect Capital during the first quarter valued at approximately $73,000. Finally, Family Wealth Partners LLC bought a new position in Prospect Capital in the third quarter valued at approximately $74,000. Institutional investors own 9.06% of the company's stock.

Prospect Capital Stock Performance

Prospect Capital stock traded down $0.05 during trading hours on Monday, hitting $5.08. The company had a trading volume of 2,218,690 shares, compared to its average volume of 2,143,838. Prospect Capital Co. has a one year low of $4.69 and a one year high of $6.30. The firm has a market cap of $2.20 billion, a PE ratio of 14.51 and a beta of 1.00. The firm has a 50-day moving average of $5.27 and a 200 day moving average of $5.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.93 and a quick ratio of 0.93.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.07. The business had revenue of $212.26 million during the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same quarter last year, the firm posted $0.23 earnings per share.

Prospect Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, October 29th. This represents a $0.72 annualized dividend and a dividend yield of 14.17%. Prospect Capital's dividend payout ratio is 205.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PSEC. StockNews.com downgraded shares of Prospect Capital from a "hold" rating to a "sell" rating in a report on Friday, August 30th. Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an "underweight" rating on the stock in a research note on Friday, August 30th.

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.