Prospect Capital Co. (NASDAQ:PSEC) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 4,160.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 946,648 shares of the financial services provider's stock after purchasing an additional 924,428 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.22% of Prospect Capital worth $4,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSEC. Virtu Financial LLC raised its position in shares of Prospect Capital by 175.2% during the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider's stock valued at $871,000 after acquiring an additional 103,679 shares in the last quarter. Legacy Wealth Management LLC MS acquired a new stake in shares of Prospect Capital during the 3rd quarter valued at approximately $451,000. Ridgeline Wealth LLC acquired a new stake in shares of Prospect Capital during the 4th quarter valued at approximately $407,000. Family Wealth Partners LLC raised its position in shares of Prospect Capital by 52.8% during the 4th quarter. Family Wealth Partners LLC now owns 21,215 shares of the financial services provider's stock valued at $91,000 after acquiring an additional 7,327 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Prospect Capital during the 4th quarter valued at approximately $79,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Stock Performance

PSEC traded down $0.10 during trading on Tuesday, reaching $3.59. 4,133,709 shares of the company were exchanged, compared to its average volume of 2,781,041. The stock has a market cap of $1.60 billion, a P/E ratio of -17.95 and a beta of 0.85. The firm has a 50 day moving average of $3.99 and a 200 day moving average of $4.36. 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 52 week low of $3.39 and a 52 week high of $5.72.

Prospect Capital Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, March 20th. Stockholders 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 payout ratio is -270.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSEC. Wells Fargo & Company lowered their price objective on Prospect Capital from $4.00 to $3.50 and set an "underweight" rating for the company in a research note on Monday. StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th.

Insider Transactions at Prospect Capital

In other Prospect Capital news, CEO John F. Barry purchased 24,000 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was bought at an average price of $4.24 per share, with a total value of $101,760.00. Following the completion of the purchase, the chief executive officer now owns 82,594,540 shares in the company, valued at $350,200,849.60. This trade represents a 0.03 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Gremp purchased 19,100 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was acquired at an average cost of $4.29 per share, with a total value of $81,939.00. Following the purchase, the director now owns 75,153 shares of the company's stock, valued at approximately $322,406.37. This represents a 34.07 % 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. 28.25% of the stock is currently owned by corporate insiders.

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.