Alpine Global Management LLC Invests $346,000 in Prospect Capital Co. (NASDAQ:PSEC)

Alpine Global Management LLC purchased a new position in Prospect Capital Co. (NASDAQ:PSEC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 80,300 shares of the financial services provider's stock, valued at approximately $346,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Balyasny Asset Management L.P. boosted its stake in shares of Prospect Capital by 6,177.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider's stock worth $10,684,000 after buying an additional 2,439,426 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Prospect Capital in the 4th quarter worth $7,880,000. Envestnet Asset Management Inc. boosted its stake in shares of Prospect Capital by 4,160.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock worth $4,080,000 after buying an additional 924,428 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Prospect Capital by 49.4% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 707,827 shares of the financial services provider's stock worth $3,051,000 after buying an additional 233,948 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Prospect Capital by 115.9% in the 4th quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider's stock worth $2,952,000 after buying an additional 367,634 shares during the last quarter. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSEC. Wall Street Zen upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th. Wells Fargo & Company decreased their target price on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating on the stock in a report on Monday, May 12th.

Insider Transactions at Prospect Capital

In other news, CEO John F. Barry bought 2,000,000 shares of Prospect Capital stock in a transaction dated 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 owns 81,501,933 shares of the company's stock, valued at $352,088,350.56. This trade represents a 2.52% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Gremp bought 19,100 shares of Prospect Capital stock in a transaction dated Tuesday, March 18th. The stock was purchased at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the acquisition, the director now directly owns 75,153 shares of the company's stock, valued at approximately $322,406.37. The trade was a 34.07% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is currently owned by insiders.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $3.39 on Friday. Prospect Capital Co. has a one year low of $3.38 and a one year high of $5.72. The stock's fifty day moving average is $3.74 and its 200 day moving average is $4.18. The stock has a market cap of $1.51 billion, a P/E ratio of -16.95 and a beta of 0.93. 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 (NASDAQ:PSEC - Get Free Report) last announced its earnings results on Thursday, May 8th. The financial services provider reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. Prospect Capital had a return on equity of 12.31% and a net margin of 1.18%. The company had revenue of $170.72 million for the quarter, compared to analysts' expectations of $174.29 million.

Prospect Capital Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 28th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. Prospect Capital's dividend payout ratio (DPR) is -62.79%.

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.

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