94,334 Shares in Prospect Capital Co. (NASDAQ:PSEC) Acquired by Ridgeline Wealth LLC

Ridgeline Wealth LLC bought a new position in Prospect Capital Co. (NASDAQ:PSEC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 94,334 shares of the financial services provider’s stock, valued at approximately $407,000.

Several other hedge funds have also recently modified their holdings of the business. Ausdal Financial Partners Inc. raised its holdings in shares of Prospect Capital by 34.7% during the second quarter. Ausdal Financial Partners Inc. now owns 39,166 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 10,097 shares during the last quarter. Y.D. More Investments Ltd raised its stake in Prospect Capital by 303.6% during the 2nd quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock valued at $29,064,000 after buying an additional 3,808,560 shares during the last quarter. AE Wealth Management LLC bought a new position in shares of Prospect Capital during the 2nd quarter valued at $80,000. Dark Forest Capital Management LP grew its holdings in shares of Prospect Capital by 34.2% in the second quarter. Dark Forest Capital Management LP now owns 46,411 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 11,825 shares during the period. Finally, Kathmere Capital Management LLC increased its position in Prospect Capital by 19.8% during the second quarter. Kathmere Capital Management LLC now owns 69,462 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 11,495 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Stock Performance

PSEC traded down $0.02 during trading on Monday, hitting $4.31. The company’s stock had a trading volume of 2,588,596 shares, compared to its average volume of 2,978,159. The business’s 50 day simple moving average is $4.59 and its 200-day simple moving average is $5.06. The firm has a market cap of $1.88 billion, a PE ratio of -16.58 and a beta of 0.99. Prospect Capital Co. has a one year low of $4.09 and a one year high of $6.26. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share 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 Announces Dividend

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 issued a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 12.53%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is -207.69%.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, COO M Grier Eliasek purchased 210,000 shares of Prospect Capital stock in a transaction on Friday, November 29th. The shares were bought at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the acquisition, the chief operating officer now owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. The trade was a 10.93 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John F. Barry acquired 2,000,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were bought at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the acquisition, the chief executive officer now directly owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 5,273,173 shares of company stock worth $23,701,420. Company insiders own 27.10% of the company’s stock.

Prospect Capital Company 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.