Denali Advisors LLC lowered its stake in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 65.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 110,138 shares of the financial services provider's stock after selling 207,098 shares during the quarter. Denali Advisors LLC's holdings in Prospect Capital were worth $475,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC boosted its position in shares of Prospect Capital by 7.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider's stock valued at $157,000 after acquiring an additional 2,010 shares during the last quarter. Captrust Financial Advisors lifted its position in Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider's stock valued at $76,000 after purchasing an additional 3,686 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in Prospect Capital by 18.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 25,424 shares of the financial services provider's stock worth $136,000 after buying an additional 3,877 shares in the last quarter. Tcfg Wealth Management LLC grew its stake in Prospect Capital by 1.7% in the 4th quarter. Tcfg Wealth Management LLC now owns 269,580 shares of the financial services provider's stock worth $1,162,000 after buying an additional 4,396 shares in the last quarter. Finally, Family Wealth Partners LLC increased its holdings in shares of Prospect Capital by 52.8% in the 4th quarter. Family Wealth Partners LLC now owns 21,215 shares of the financial services provider's stock worth $91,000 after buying an additional 7,327 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company's stock.
Insiders Place Their Bets
In other Prospect Capital news, CEO John F. Barry bought 2,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, December 24th. The shares were bought at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 27.10% of the company's stock.
Prospect Capital Price Performance
Shares of Prospect Capital stock traded down $0.05 during trading on Monday, hitting $4.35. 2,785,567 shares of the stock traded hands, compared to its average volume of 2,538,369. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -21.75 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72. The firm's fifty day moving average is $4.32 and its 200-day moving average is $4.75.
Prospect Capital Announces Dividend
The firm also recently declared a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.045 per share. This represents a yield of 12.47%. The ex-dividend date of this dividend is Wednesday, February 26th. Prospect Capital's payout ratio is currently -270.00%.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Friday, December 6th.
Check Out Our Latest Stock Report on PSEC
Prospect Capital Profile
(
Free Report)
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.
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