Prospect Capital Co. (NASDAQ:PSEC) Shares Bought by Modern Wealth Management LLC

Modern Wealth Management LLC lifted its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,566 shares of the financial services provider’s stock after purchasing an additional 2,774 shares during the quarter. Modern Wealth Management LLC’s holdings in Prospect Capital were worth $136,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Samalin Investment Counsel LLC acquired a new position in Prospect Capital during the fourth quarter worth about $62,000. Virtu Financial LLC boosted its stake in shares of Prospect Capital by 25.9% during the 4th quarter. Virtu Financial LLC now owns 205,041 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 42,197 shares in the last quarter. Palogic Value Management L.P. grew its holdings in shares of Prospect Capital by 50.8% in the 4th quarter. Palogic Value Management L.P. now owns 351,294 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 118,400 shares during the period. Glenview Trust co purchased a new position in Prospect Capital in the 4th quarter valued at approximately $391,000. Finally, Centurion Wealth Management LLC acquired a new position in Prospect Capital during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, Director William Gremp bought 19,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the transaction, the director now owns 75,153 shares in the company, valued at $322,406.37. The trade was a 34.07 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John F. Barry purchased 24,000 shares of Prospect Capital stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $4.24 per share, for a total transaction of $101,760.00. Following the purchase, the chief executive officer now owns 82,594,540 shares in the company, valued at approximately $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. Over the last 90 days, insiders purchased 2,548,000 shares of company stock valued at $10,970,715. Corporate insiders own 28.25% of the company’s stock.

Prospect Capital Stock Down 1.7 %

Shares of NASDAQ PSEC opened at $4.11 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50-day moving average is $4.31 and its two-hundred day moving average is $4.64. Prospect Capital Co. has a 12-month low of $4.09 and a 12-month high of $5.72. The company has a market capitalization of $1.83 billion, a PE ratio of -20.55 and a beta of 0.94.

Prospect Capital Dividend Announcement

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

About Prospect Capital

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.