Cerity Partners LLC Makes New $304,000 Investment in Prospect Capital Co. (NASDAQ:PSEC)

Cerity Partners LLC purchased a new position in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 70,504 shares of the financial services provider's stock, valued at approximately $304,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. purchased a new position in Prospect Capital during the 4th quarter worth $44,000. Centurion Wealth Management LLC purchased a new position in shares of Prospect Capital in the 4th quarter valued at $46,000. PFG Advisors purchased a new position in shares of Prospect Capital in the 4th quarter valued at $57,000. Independent Advisor Alliance purchased a new position in shares of Prospect Capital in the 4th quarter valued at $62,000. Finally, Samalin Investment Counsel LLC purchased a new position in shares of Prospect Capital in the 4th quarter valued at $62,000. 9.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSEC has been the topic of a number of analyst reports. StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th. Wells Fargo & Company dropped their target price on Prospect Capital from $4.00 to $3.50 and set an "underweight" rating on the stock in a research note on Monday.

Insider Activity at Prospect Capital

In other Prospect Capital news, Director William Gremp bought 19,100 shares of the stock in a transaction on Tuesday, March 18th. The shares were bought at an average price of $4.29 per share, with a total value of $81,939.00. Following the purchase, the director now directly owns 75,153 shares in the company, valued at $322,406.37. This trade represents a 34.07 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John F. Barry bought 24,000 shares of the stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $4.24 per share, for a total transaction of $101,760.00. Following the purchase, the chief executive officer now owns 82,594,540 shares in the company, valued at $350,200,849.60. The trade was a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is owned by company insiders.

Prospect Capital Stock Down 3.1 %

PSEC stock traded down $0.12 on Tuesday, hitting $3.58. 1,053,387 shares of the company's stock were exchanged, compared to its average volume of 2,767,648. Prospect Capital Co. has a 12-month low of $3.39 and a 12-month high of $5.72. The firm has a 50 day moving average price of $4.01 and a two-hundred day moving average price of $4.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $1.59 billion, a P/E ratio of -17.83 and a beta of 0.85.

Prospect Capital Announces Dividend

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

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.