Ridgeline Wealth LLC Buys New Stake in Prospect Capital Co. (NASDAQ:PSEC)

Ridgeline Wealth LLC purchased a new position in Prospect Capital Co. (NASDAQ:PSEC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 94,334 shares of the financial services provider’s stock, valued at approximately $407,000.

A number of other hedge funds also recently bought and sold shares of PSEC. MWA Asset Management purchased a new position in shares of Prospect Capital in the 3rd quarter worth approximately $53,000. Global Assets Advisory LLC bought a new position in Prospect Capital during the third quarter valued at $64,000. Family Wealth Partners LLC bought a new stake in shares of Prospect Capital in the 3rd quarter worth about $74,000. Captrust Financial Advisors boosted its stake in shares of Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares during the period. Finally, AE Wealth Management LLC bought a new position in Prospect Capital during the 2nd quarter valued at about $80,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Trading Down 0.5 %

Shares of NASDAQ:PSEC traded down $0.02 on Monday, hitting $4.31. 2,588,596 shares of the company’s stock were exchanged, compared to its average volume of 2,978,159. The business’s 50 day simple moving average is $4.59 and its two-hundred day simple moving average is $5.06. 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 -16.58 and a beta of 0.99. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $6.26.

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

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be issued a $0.045 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.53%. Prospect Capital’s dividend payout ratio is presently -207.69%.

Insiders Place Their Bets

In other news, COO M Grier Eliasek bought 210,000 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were purchased at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the transaction, the chief operating officer now directly owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. This represents a 10.93 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John F. Barry purchased 2,000,000 shares of Prospect Capital stock in a transaction on Tuesday, December 24th. The shares were acquired at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,477,549 shares in the company, valued at $340,958,685.21. The trade was a 2.58 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 5,273,173 shares of company stock worth $23,701,420. 27.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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.