TrueMark Investments LLC Lowers Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

TrueMark Investments LLC trimmed its holdings in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 32.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501,917 shares of the financial services provider's stock after selling 236,235 shares during the quarter. TrueMark Investments LLC owned approximately 0.12% of Prospect Capital worth $2,163,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PSEC. Centurion Wealth Management LLC bought a new stake in Prospect Capital in the 4th quarter worth approximately $46,000. PFG Advisors purchased a new stake in Prospect Capital during the fourth quarter valued at $57,000. Independent Advisor Alliance bought a new position in Prospect Capital during the fourth quarter valued at $62,000. Samalin Investment Counsel LLC bought a new position in Prospect Capital during the fourth quarter valued at $62,000. Finally, Cutter & CO Brokerage Inc. grew its stake in shares of Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider's stock worth $69,000 after buying an additional 3,467 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Remove Ads

Prospect Capital Stock Down 1.7 %

NASDAQ PSEC traded down $0.07 during midday trading on Friday, hitting $4.11. 2,741,038 shares of the company traded hands, compared to its average volume of 2,601,159. The company has a market cap of $1.83 billion, a PE ratio of -20.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72. The company's 50-day simple moving average is $4.31 and its 200-day simple moving average is $4.64.

Prospect Capital Dividend Announcement

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

Insider Activity at Prospect Capital

In related news, Director William Gremp purchased 19,100 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was acquired at an average price of $4.29 per share, with a total value of $81,939.00. Following the completion of the acquisition, the director now owns 75,153 shares in the company, valued at approximately $322,406.37. This represents a 34.07 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John F. Barry bought 24,000 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average cost of $4.24 per share, for a total transaction of $101,760.00. Following the completion of the transaction, the chief executive officer now owns 82,594,540 shares in the company, valued at $350,200,849.60. This trade represents a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,548,000 shares of company stock valued at $10,970,715 over the last 90 days. Insiders own 28.25% of the company's stock.

Prospect Capital 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.