Independent Advisor Alliance Takes Position in Prospect Capital Co. (NASDAQ:PSEC)

Independent Advisor Alliance bought a new stake in Prospect Capital Co. (NASDAQ:PSEC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,420 shares of the financial services provider’s stock, valued at approximately $62,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Naviter Wealth LLC purchased a new stake in shares of Prospect Capital in the 4th quarter worth $2,216,000. WMG Financial Advisors LLC boosted its position in Prospect Capital by 22.3% during the 4th quarter. WMG Financial Advisors LLC now owns 27,950 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 5,100 shares in the last quarter. Kovack Advisors Inc. boosted its position in Prospect Capital by 1.9% during the 4th quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 2,732 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its position in Prospect Capital by 27.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 3,467 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its holdings in Prospect Capital by 158.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 38,923 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Prospect Capital

In related news, CEO John F. Barry purchased 2,000,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the purchase, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. This trade represents a 2.58 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Gremp purchased 19,100 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were bought at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the purchase, the director now directly owns 75,153 shares in the company, valued at $322,406.37. This represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 4,500,000 shares of company stock worth $19,345,755. 28.25% of the stock is owned by corporate insiders.

Prospect Capital Price Performance

NASDAQ PSEC opened at $4.26 on Friday. The firm’s fifty day simple moving average is $4.32 and its two-hundred day simple moving average is $4.68. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. Prospect Capital Co. has a 12-month low of $4.09 and a 12-month high of $5.72. The firm has a market capitalization of $1.90 billion, a P/E ratio of -21.30 and a beta of 0.94.

Prospect Capital Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders 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 yield of 12.47%. Prospect Capital’s payout ratio is -270.00%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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.