Family Wealth Partners LLC Acquires 7,327 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Family Wealth Partners LLC lifted its stake in Prospect Capital Co. (NASDAQ:PSEC) by 52.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,215 shares of the financial services provider’s stock after purchasing an additional 7,327 shares during the period. Family Wealth Partners LLC’s holdings in Prospect Capital were worth $91,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Ridgeline Wealth LLC bought a new stake in Prospect Capital during the 4th quarter valued at $407,000. Legacy Wealth Management LLC MS purchased a new position in shares of Prospect Capital during the third quarter valued at $451,000. Virtu Financial LLC raised its holdings in shares of Prospect Capital by 175.2% in the third quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 103,679 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Prospect Capital in the third quarter worth about $1,199,000. Finally, XTX Topco Ltd purchased a new position in Prospect Capital during the 3rd quarter valued at about $88,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, CEO John F. Barry purchased 205,900 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $4.40 per share, for a total transaction 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. This represents a 0.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO M Grier Eliasek purchased 210,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were acquired at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the purchase, the chief operating officer now directly owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. The trade was a 10.93 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 5,273,173 shares of company stock worth $23,701,420 over the last three months. Corporate insiders own 27.10% of the company’s stock.

Prospect Capital Trading Up 0.7 %

Shares of NASDAQ:PSEC opened at $4.32 on Friday. The company has a market capitalization of $1.88 billion, a PE ratio of -16.62 and a beta of 0.99. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. Prospect Capital Co. has a 12-month low of $4.09 and a 12-month high of $6.25. The business’s fifty day simple moving average is $4.42 and its 200-day simple moving average is $4.98.

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

Prospect Capital Dividend Announcement

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

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.