Prospect Capital Co. (NASDAQ:PSEC) Shares Acquired by Palogic Value Management L.P.

Palogic Value Management L.P. grew its stake in Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 50.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,294 shares of the financial services provider's stock after purchasing an additional 118,400 shares during the period. Palogic Value Management L.P. owned about 0.08% of Prospect Capital worth $1,514,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Balyasny Asset Management L.P. raised its stake in shares of Prospect Capital by 6,177.6% during 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 period. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Prospect Capital in the 4th quarter worth $7,880,000. Envestnet Asset Management Inc. increased 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 acquiring an additional 924,428 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased 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 acquiring an additional 233,948 shares during the last quarter. Finally, Two Sigma Investments LP increased 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 acquiring an additional 367,634 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company's stock.

Prospect Capital Price Performance

PSEC traded down $0.04 during trading on Thursday, reaching $3.24. 4,288,558 shares of the stock were exchanged, compared to its average volume of 2,923,057. The business's 50 day moving average price is $3.65 and its two-hundred day moving average price is $4.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -16.20 and a beta of 0.93. Prospect Capital Co. has a 1 year low of $3.24 and a 1 year high of $5.67.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $170.72 million for the quarter, compared to the consensus estimate of $174.29 million. Prospect Capital had a return on equity of 12.31% and a net margin of 1.18%.

Prospect Capital Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, May 28th. This represents a dividend yield of 16.46%. Prospect Capital's dividend payout ratio (DPR) is currently -62.79%.

Wall Street Analysts Forecast Growth

PSEC has been the subject of a number of research analyst reports. Wall Street Zen upgraded Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th. Wells Fargo & Company cut their price target on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating on the stock in a research report on Monday, May 12th.

Insider Activity

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

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.