Naviter Wealth LLC Makes New $2.22 Million Investment in Prospect Capital Co. (NASDAQ:PSEC)

Naviter Wealth LLC purchased a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) during the 4th quarter, Holdings Channel reports. The fund purchased 508,914 shares of the financial services provider’s stock, valued at approximately $2,216,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Choreo LLC acquired a new position in shares of Prospect Capital during the 4th quarter worth about $1,086,000. Arete Wealth Advisors LLC acquired a new position in shares of Prospect Capital during the 3rd quarter worth about $1,199,000. XML Financial LLC increased its stake 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. Paloma Partners Management Co acquired a new position in shares of Prospect Capital during the 3rd quarter worth about $578,000. Finally, Virtu Financial LLC increased its stake in shares of Prospect Capital by 175.2% during 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. 9.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO John F. Barry purchased 2,000,000 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was bought at an average price of $4.29 per share, with a total value of $8,580,000.00. Following the acquisition, the chief executive officer now owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 27.10% of the company’s stock.

Prospect Capital Stock Performance

Shares of NASDAQ:PSEC opened at $4.38 on Friday. The company’s 50 day moving average price is $4.32 and its two-hundred day moving average price is $4.74. Prospect Capital Co. has a 12-month low of $4.09 and a 12-month high of $5.72. The firm has a market cap of $1.94 billion, a PE ratio of -21.90 and a beta of 0.94. 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 firm also recently announced a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be given a dividend of $0.045 per share. The ex-dividend date is Wednesday, February 26th. This represents a dividend yield of 12.47%. Prospect Capital’s payout ratio is presently -270.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note 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.