Naviter Wealth LLC Acquires Shares of 508,914 Prospect Capital Co. (NASDAQ:PSEC)

Naviter Wealth LLC bought a new position in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 508,914 shares of the financial services provider's stock, valued at approximately $2,216,000. Naviter Wealth LLC owned 0.12% of Prospect Capital as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. XML Financial LLC lifted its position in shares of Prospect Capital by 8.1% during the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider's stock worth $10,938,000 after purchasing an additional 153,180 shares during the last quarter. Navis Wealth Advisors LLC acquired a new stake in Prospect Capital in the fourth quarter valued at $263,000. XTX Topco Ltd purchased a new stake in Prospect Capital during the 3rd quarter worth about $88,000. Ridgeline Wealth LLC acquired a new position in shares of Prospect Capital during the 4th quarter worth about $407,000. Finally, Strategic Financial Concepts LLC boosted its position in shares of Prospect Capital by 131.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 49,134 shares of the financial services provider's stock worth $212,000 after acquiring an additional 27,935 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research note on Friday, December 6th.

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Insider Transactions at Prospect Capital

In other news, CEO John F. Barry purchased 2,000,000 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the purchase, the chief executive officer now directly owns 79,477,549 shares of the company's stock, valued at $340,958,685.21. This represents a 2.58 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 27.10% of the company's stock.

Prospect Capital Stock Down 1.4 %

Shares of NASDAQ PSEC traded down $0.06 during mid-day trading on Wednesday, reaching $4.24. The company had a trading volume of 3,444,999 shares, compared to its average volume of 2,559,202. The firm has a 50 day simple moving average of $4.32 and a two-hundred day simple moving average of $4.72. Prospect Capital Co. has a 52-week low of $4.09 and a 52-week high of $5.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.88 billion, a P/E ratio of -21.20 and a beta of 0.94.

Prospect Capital Dividend Announcement

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

Prospect Capital Company 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.