International Assets Investment Management LLC decreased its position in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 81.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,914 shares of the financial services provider's stock after selling 759,169 shares during the quarter. International Assets Investment Management LLC's holdings in Prospect Capital were worth $755,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PSEC. Ridgeline Wealth LLC bought a new position in Prospect Capital during the 4th quarter valued at approximately $407,000. Legacy Wealth Management LLC MS bought a new position in shares of Prospect Capital during the third quarter valued at $451,000. Virtu Financial LLC raised its position in shares of Prospect Capital by 175.2% in the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider's stock worth $871,000 after purchasing an additional 103,679 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in shares of Prospect Capital in the 3rd quarter worth about $1,199,000. Finally, XTX Topco Ltd purchased a new stake in Prospect Capital during the 3rd quarter valued at about $88,000. Hedge funds and other institutional investors own 9.06% of the company's stock.
Insider Activity at Prospect Capital
In other Prospect Capital news, CEO John F. Barry acquired 837,273 shares of the stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $4.47 per share, for a total transaction of $3,742,610.31. Following the purchase, the chief executive officer now directly owns 73,450,112 shares of the company's stock, valued at approximately $328,322,000.64. This trade represents a 1.15 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, COO M Grier Eliasek bought 210,000 shares of the business's stock in a transaction that occurred on Friday, November 29th. The shares were acquired at an average price of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the transaction, the chief operating officer now directly owns 2,131,130 shares of the company's stock, valued at $10,250,735.30. This trade represents a 10.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,273,173 shares of company stock worth $23,701,420 over the last quarter. Company insiders own 27.10% of the company's stock.
Analyst Ratings Changes
Separately, StockNews.com raised shares of Prospect Capital from a "sell" rating to a "hold" rating in a report on Friday, December 6th.
Check Out Our Latest Research Report on Prospect Capital
Prospect Capital Stock Down 0.5 %
PSEC stock traded down $0.02 during midday trading on Friday, hitting $4.22. The company's stock had a trading volume of 2,758,803 shares, compared to its average volume of 2,912,914. The firm's 50-day moving average is $4.51 and its 200-day moving average is $5.03. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $6.25. The company has a market cap of $1.84 billion, a PE ratio of -16.23 and a beta of 0.99.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The firm had revenue of $196.31 million for the quarter.
Prospect Capital Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.80%. Prospect Capital's dividend payout ratio is presently -207.69%.
About Prospect Capital
(
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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