Cerity Partners LLC Makes New $304,000 Investment in Prospect Capital Co. (NASDAQ:PSEC)

Cerity Partners LLC acquired a new position in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70,504 shares of the financial services provider's stock, valued at approximately $304,000.

Several other institutional investors have also modified their holdings of PSEC. Thomas J. Herzfeld Advisors Inc. acquired a new stake in Prospect Capital in the fourth quarter valued at about $7,880,000. Envestnet Asset Management Inc. lifted its holdings in shares of Prospect Capital by 4,160.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock valued at $4,080,000 after buying an additional 924,428 shares during the period. Naviter Wealth LLC purchased a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $2,216,000. Trexquant Investment LP purchased a new stake in shares of Prospect Capital during the 4th quarter worth $1,429,000. Finally, Choreo LLC purchased a new position in shares of Prospect Capital in the 4th quarter valued at about $1,086,000. Hedge funds and other institutional investors own 9.06% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th.

Prospect Capital Price Performance

NASDAQ:PSEC traded up $0.02 during trading hours on Friday, reaching $3.69. 2,086,867 shares of the company traded hands, compared to its average volume of 2,773,264. The stock has a market cap of $1.64 billion, a P/E ratio of -18.45 and a beta of 0.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. Prospect Capital Co. has a 1-year low of $3.39 and a 1-year high of $5.72. The firm's 50-day moving average is $4.03 and its 200-day moving average is $4.39.

Prospect Capital Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.045 per share. This represents a dividend yield of 12.47%. The ex-dividend date was Wednesday, February 26th. Prospect Capital's dividend payout ratio is presently -270.00%.

Insider Activity at Prospect Capital

In other news, CEO John F. Barry purchased 240,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was purchased at an average cost of $4.20 per share, with a total value of $1,008,000.00. Following the purchase, the chief executive officer now owns 81,981,933 shares in the company, valued at $344,324,118.60. This trade represents a 0.29 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Gremp purchased 19,100 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was bought at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the acquisition, the director now directly owns 75,153 shares of the company's stock, valued at $322,406.37. This represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,548,000 shares of company stock valued at $10,970,715. Corporate insiders own 28.25% of the company's stock.

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.