Palogic Value Management L.P. Buys 118,400 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Palogic Value Management L.P. raised its stake in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 50.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 351,294 shares of the financial services provider's stock after buying an additional 118,400 shares during the period. Palogic Value Management L.P. owned about 0.08% of Prospect Capital worth $1,514,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Naviter Wealth LLC bought a new position in Prospect Capital during the fourth quarter worth $2,216,000. D.A. Davidson & CO. grew its holdings in Prospect Capital by 14.6% during the 4th quarter. D.A. Davidson & CO. now owns 342,831 shares of the financial services provider's stock worth $1,478,000 after acquiring an additional 43,753 shares during the period. Tcfg Wealth Management LLC raised its position in shares of 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 acquiring an additional 4,396 shares in the last quarter. Choreo LLC acquired a new position in shares of Prospect Capital in the 4th quarter valued at about $1,086,000. Finally, Arete Wealth Advisors LLC bought a new stake in shares of Prospect Capital during the 3rd quarter valued at about $1,199,000. Institutional investors and hedge funds own 9.06% of the company's stock.

Insider Activity

In other Prospect Capital news, CEO John F. Barry purchased 2,000,000 shares of Prospect Capital stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price of $4.32 per share, with a total value of $8,640,000.00. Following the transaction, the chief executive officer now owns 81,501,933 shares in the company, valued at $352,088,350.56. This trade represents a 2.52 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Gremp acquired 19,100 shares of the stock in a transaction on Tuesday, March 18th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the acquisition, the director now owns 75,153 shares of the company's stock, valued at approximately $322,406.37. The trade was a 34.07 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 2,524,000 shares of company stock worth $10,868,955 over the last quarter. 28.25% of the stock is currently owned by corporate insiders.

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Prospect Capital Price Performance

Shares of Prospect Capital stock remained flat at $4.24 during trading on Tuesday. 2,453,049 shares of the company were exchanged, compared to its average volume of 2,593,371. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -21.20 and a beta of 0.94. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72. The company has a fifty day moving average price of $4.32 and a 200 day moving average price of $4.66. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.