Naviter Wealth LLC Purchases New Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Naviter Wealth LLC purchased a new stake in Prospect Capital Co. (NASDAQ:PSEC) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 508,914 shares of the financial services provider’s stock, valued at approximately $2,216,000. Naviter Wealth LLC owned approximately 0.12% of Prospect Capital at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Captrust Financial Advisors grew its holdings in Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 3,686 shares during the period. Cutter & CO Brokerage Inc. grew its holdings 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 worth $69,000 after acquiring an additional 3,467 shares during the period. XTX Topco Ltd acquired a new stake in Prospect Capital during the 3rd quarter worth $88,000. Merit Financial Group LLC acquired a new stake in Prospect Capital during the 4th quarter worth $79,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in Prospect Capital during the 3rd quarter worth $105,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO John F. Barry acquired 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were acquired at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the transaction, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. The trade was a 2.58 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 27.10% of the stock is owned by company insiders.

Prospect Capital Price Performance

Shares of PSEC stock opened at $4.38 on Friday. 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 $1.94 billion, a price-to-earnings 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. The firm has a fifty day moving average of $4.32 and a 200-day moving average of $4.74.

Prospect Capital Dividend Announcement

The company also recently declared a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be issued a $0.045 dividend. This represents a dividend yield of 12.47%. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s dividend payout ratio (DPR) is -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.