Family Wealth Partners LLC Raises Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

Family Wealth Partners LLC grew its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 52.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,215 shares of the financial services provider’s stock after acquiring an additional 7,327 shares during the period. Family Wealth Partners LLC’s holdings in Prospect Capital were worth $91,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Global Assets Advisory LLC purchased a new position in Prospect Capital in the 3rd quarter worth approximately $64,000. Captrust Financial Advisors lifted 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 worth $76,000 after buying an additional 3,686 shares in the last quarter. AE Wealth Management LLC bought a new position in shares of Prospect Capital during the second quarter worth $80,000. XTX Topco Ltd purchased a new position in Prospect Capital during the third quarter valued at $88,000. Finally, West Michigan Advisors LLC purchased a new position in Prospect Capital during the third quarter valued at $92,000. Institutional investors own 9.06% of the company’s stock.

Insider Buying and Selling at Prospect Capital

In other news, CEO John F. Barry bought 205,900 shares of Prospect Capital stock in a transaction dated Friday, November 15th. The shares were acquired at an average price of $4.40 per share, with a total value of $905,960.00. Following the completion of the purchase, the chief executive officer now owns 72,612,839 shares in the company, valued at $319,496,491.60. The trade was a 0.28 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO M Grier Eliasek purchased 210,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the purchase, the chief operating officer now owns 2,131,130 shares in the company, valued at $10,250,735.30. This trade represents a 10.93 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 5,273,173 shares of company stock worth $23,701,420 over the last ninety days. Company insiders own 27.10% of the company’s stock.

Prospect Capital Stock Up 0.7 %

Shares of PSEC opened at $4.32 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -16.62 and a beta of 0.99. Prospect Capital Co. has a 1 year low of $4.09 and a 1 year high of $6.25. The business’s 50 day simple moving average is $4.42 and its 200-day simple moving average is $4.98.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%. The company had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 12.50%. Prospect Capital’s payout ratio is currently -207.69%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

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.