Thomas J. Herzfeld Advisors Inc. bought a new position in Prospect Capital Co. (NASDAQ:PSEC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,828,411 shares of the financial services provider's stock, valued at approximately $7,880,000. Prospect Capital accounts for 2.5% of Thomas J. Herzfeld Advisors Inc.'s investment portfolio, making the stock its 8th largest holding. Thomas J. Herzfeld Advisors Inc. owned about 0.42% of Prospect Capital at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of Prospect Capital by 99.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 136,249 shares of the financial services provider's stock valued at $729,000 after purchasing an additional 67,920 shares during the period. Captrust Financial Advisors boosted its holdings in shares of Prospect Capital by 34.9% in the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider's stock valued at $76,000 after buying an additional 3,686 shares during the period. Paloma Partners Management Co bought a new stake in Prospect Capital in the 3rd quarter valued at $578,000. XTX Topco Ltd bought a new stake in Prospect Capital in the 3rd quarter valued at $88,000. Finally, Virtu Financial LLC increased its holdings in Prospect Capital by 175.2% during the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider's stock worth $871,000 after purchasing an additional 103,679 shares in the last quarter. 9.06% of the stock is owned by institutional investors.
Insider Buying and Selling at Prospect Capital
In related news, CEO John F. Barry acquired 240,000 shares of the firm's stock in a transaction dated 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 acquisition, the chief executive officer now directly owns 81,981,933 shares of the company's stock, valued at approximately $344,324,118.60. The trade was a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Gremp bought 19,100 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were 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 position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,548,000 shares of company stock worth $10,970,715. Insiders own 28.25% of the company's stock.
Prospect Capital Stock Down 8.6 %
NASDAQ:PSEC traded down $0.35 during trading hours on Friday, reaching $3.70. 8,922,679 shares of the stock were exchanged, compared to its average volume of 2,662,764. The stock has a market cap of $1.65 billion, a PE ratio of -18.50 and a beta of 0.85. Prospect Capital Co. has a twelve month low of $3.68 and a twelve month high of $5.72. The firm has a 50 day moving average of $4.27 and a 200 day moving average of $4.59. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76.
Prospect Capital Announces Dividend
The firm also recently announced a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a $0.045 dividend. This represents a yield of 12.47%. The ex-dividend date of this dividend was Wednesday, February 26th. Prospect Capital's dividend payout ratio (DPR) is currently -270.00%.
Analyst Ratings Changes
Separately, StockNews.com lowered Prospect Capital from a "hold" rating to a "sell" rating in a report on Friday.
Check Out Our Latest Analysis on Prospect Capital
Prospect Capital Profile
(
Free Report)
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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