Great Valley Advisor Group Inc. Buys Shares of 19,561 Prospect Capital Co. (NASDAQ:PSEC)

Great Valley Advisor Group Inc. purchased a new position in Prospect Capital Co. (NASDAQ:PSEC) during the 3rd quarter, HoldingsChannel reports. The firm purchased 19,561 shares of the financial services provider’s stock, valued at approximately $105,000.

A number of other large investors also recently modified their holdings of the business. Rothschild Investment LLC acquired a new stake in Prospect Capital during the second quarter worth about $27,000. MWA Asset Management bought a new stake in shares of Prospect Capital during the third quarter valued at approximately $53,000. Global Assets Advisory LLC acquired a new position in shares of Prospect Capital in the third quarter valued at $64,000. Family Wealth Partners LLC bought a new position in Prospect Capital in the third quarter worth $74,000. Finally, Apeiron RIA LLC acquired a new stake in Prospect Capital during the second quarter worth $79,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO John F. Barry acquired 837,273 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were purchased at an average price of $4.47 per share, with a total value of $3,742,610.31. Following the acquisition, the chief executive officer now directly owns 73,450,112 shares in the company, valued at $328,322,000.64. The trade was a 1.15 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders have acquired a total of 3,058,173 shares of company stock worth $14,087,720 in the last three months. Insiders own 27.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PSEC shares. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company decreased their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, August 30th.

Prospect Capital Stock Performance

Prospect Capital stock opened at $4.75 on Friday. Prospect Capital Co. has a 52-week low of $4.15 and a 52-week high of $6.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a fifty day moving average price of $5.06 and a two-hundred day moving average price of $5.29. The firm has a market capitalization of $2.07 billion, a P/E ratio of -18.27 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $196.31 million during the quarter. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%.

Prospect Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be issued a $0.045 dividend. This represents a $0.54 annualized dividend and a dividend yield of 11.37%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s payout ratio is currently -207.69%.

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.