Alpine Global Management LLC Makes New Investment in Prospect Capital Co. (NASDAQ:PSEC)

Alpine Global Management LLC purchased a new position in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 80,300 shares of the financial services provider's stock, valued at approximately $346,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its stake in shares of Prospect Capital by 732.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,560 shares of the financial services provider's stock worth $63,000 after buying an additional 12,810 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in Prospect Capital by 49.4% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 707,827 shares of the financial services provider's stock valued at $3,051,000 after acquiring an additional 233,948 shares in the last quarter. Cravens & Co Advisors LLC acquired a new stake in Prospect Capital in the 4th quarter valued at about $86,000. Guggenheim Capital LLC lifted its stake in Prospect Capital by 8.2% in the 4th quarter. Guggenheim Capital LLC now owns 88,830 shares of the financial services provider's stock worth $383,000 after purchasing an additional 6,734 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of Prospect Capital by 943.8% in the fourth quarter. XTX Topco Ltd now owns 172,329 shares of the financial services provider's stock valued at $743,000 after purchasing an additional 155,820 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director William Gremp bought 19,100 shares of the stock in a transaction that occurred 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. The trade was a 34.07 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John F. Barry purchased 2,000,000 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $4.32 per share, for a total transaction of $8,640,000.00. Following the completion of the purchase, the chief executive officer now directly owns 81,501,933 shares of the company's stock, valued at approximately $352,088,350.56. This trade represents a 2.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is currently owned by corporate insiders.

Prospect Capital Trading Up 0.5 %

PSEC traded up $0.02 during trading hours on Friday, reaching $3.69. The company's stock had a trading volume of 2,086,867 shares, compared to its average volume of 2,771,775. The business's 50-day moving average is $4.03 and its 200-day moving average is $4.39. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $1.64 billion, a PE ratio of -18.45 and a beta of 0.85. Prospect Capital Co. has a fifty-two week low of $3.39 and a fifty-two week high of $5.72.

Prospect Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.