Balyasny Asset Management L.P. Acquires 2,439,426 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Balyasny Asset Management L.P. boosted its position in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 6,177.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,478,914 shares of the financial services provider's stock after acquiring an additional 2,439,426 shares during the quarter. Balyasny Asset Management L.P. owned 0.57% of Prospect Capital worth $10,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. bought a new position in Prospect Capital in the fourth quarter valued at $44,000. Centurion Wealth Management LLC purchased a new stake in Prospect Capital during the fourth quarter valued at about $46,000. Envision Financial Planning LLC purchased a new stake in Prospect Capital during the fourth quarter valued at about $56,000. PFG Advisors purchased a new stake in Prospect Capital during the fourth quarter valued at about $57,000. Finally, Independent Advisor Alliance purchased a new stake in Prospect Capital during the fourth quarter valued at about $62,000. Institutional investors own 9.06% of the company's stock.

Prospect Capital Trading Up 4.2%

PSEC stock traded up $0.15 on Monday, reaching $3.69. The company's stock had a trading volume of 7,597,481 shares, compared to its average volume of 2,823,587. 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 business has a fifty day simple moving average of $3.87 and a two-hundred day simple moving average of $4.26. The firm has a market cap of $1.64 billion, a PE ratio of -18.45 and a beta of 0.93. Prospect Capital Co. has a 12-month low of $3.39 and a 12-month high of $5.72.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.05. Prospect Capital had a net margin of 1.18% and a return on equity of 12.31%. The company had revenue of $170.72 million for the quarter, compared to analysts' expectations of $174.29 million.

Prospect Capital Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.045 per share. The ex-dividend date is Wednesday, May 28th. Prospect Capital's dividend payout ratio (DPR) is presently -270.00%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSEC. StockNews.com upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th. Wells Fargo & Company dropped their target price on shares of Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a report on Monday.

Insider Buying and Selling at Prospect Capital

In other news, Director William Gremp acquired 19,100 shares of the firm's stock in a transaction dated Tuesday, March 18th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the transaction, the director now directly owns 75,153 shares of the company's stock, valued at approximately $322,406.37. This trade represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John F. Barry purchased 240,000 shares of Prospect Capital stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $4.20 per share, for a total transaction of $1,008,000.00. Following the completion of the acquisition, the chief executive officer now owns 81,981,933 shares in the company, valued at $344,324,118.60. The trade was a 0.29% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,548,000 shares of company stock valued at $10,970,715. Corporate insiders own 28.25% of the company's stock.

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.