Prospect Capital Co. (NASDAQ:PSEC) Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Prospect Capital Co. (NASDAQ:PSEC - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,898,651 shares of the financial services provider's stock after selling 153,172 shares during the quarter. Legal & General Group Plc owned 0.66% of Prospect Capital worth $12,508,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC purchased a new position in shares of Prospect Capital in the fourth quarter valued at $304,000. Envestnet Asset Management Inc. increased its holdings in Prospect Capital by 4,160.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock valued at $4,080,000 after acquiring an additional 924,428 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Prospect Capital during the fourth quarter worth about $792,000. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter valued at about $7,880,000. Finally, Trexquant Investment LP acquired a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $1,429,000. 9.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prospect Capital

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

Analyst Ratings Changes

Separately, StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th.

Prospect Capital Price Performance

Shares of PSEC traded up $0.07 during trading hours on Tuesday, reaching $3.56. 1,994,952 shares of the company traded hands, compared to its average volume of 2,769,232. The stock has a fifty day simple moving average of $4.07 and a 200 day simple moving average of $4.42. Prospect Capital Co. has a fifty-two week low of $3.39 and a fifty-two week high of $5.72. The stock has a market capitalization of $1.59 billion, a PE ratio of -17.80 and a beta of 0.85. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.

Prospect Capital Dividend Announcement

The company also recently declared a dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a dividend yield of 12.47%. Prospect Capital's dividend payout ratio (DPR) is presently -270.00%.

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.