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

Modern Wealth Management LLC lifted its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,566 shares of the financial services provider’s stock after purchasing an additional 2,774 shares during the period. Modern Wealth Management LLC’s holdings in Prospect Capital were worth $136,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSEC. Navis Wealth Advisors LLC purchased a new position in shares of Prospect Capital in the 4th quarter valued at about $263,000. XTX Topco Ltd acquired a new position in Prospect Capital in the third quarter valued at approximately $88,000. Ridgeline Wealth LLC acquired a new stake in Prospect Capital during the fourth quarter worth approximately $407,000. Atria Wealth Solutions Inc. lifted its position in shares of Prospect Capital by 158.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider’s stock worth $274,000 after buying an additional 38,923 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of Prospect Capital by 131.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 49,134 shares of the financial services provider’s stock valued at $212,000 after buying an additional 27,935 shares in the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Trading Down 1.7 %

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

Prospect Capital Announces Dividend

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

Insider Activity

In other news, Director William Gremp bought 19,100 shares of the stock in a transaction dated Tuesday, March 18th. The shares were acquired at an average price of $4.29 per share, with a total value of $81,939.00. Following the completion of the acquisition, the director now directly owns 75,153 shares in the company, valued at approximately $322,406.37. The trade was a 34.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John F. Barry purchased 2,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $4.32 per share, with a total value of $8,640,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 81,501,933 shares of the company’s stock, valued at $352,088,350.56. This represents a 2.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,548,000 shares of company stock valued at $10,970,715. Company insiders own 28.25% of the company’s stock.

Analyst Upgrades and Downgrades

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 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.