Palogic Value Management L.P. Has $1.51 Million Stock Position in Prospect Capital Co. (NASDAQ:PSEC)

Palogic Value Management L.P. grew its holdings in shares of Prospect Capital Co. (NASDAQ:PSEC) by 50.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 351,294 shares of the financial services provider’s stock after acquiring an additional 118,400 shares during the period. Palogic Value Management L.P.’s holdings in Prospect Capital were worth $1,514,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Glenview Trust co purchased a new position in Prospect Capital during the fourth quarter worth about $391,000. Centurion Wealth Management LLC purchased a new position in shares of Prospect Capital in the 4th quarter worth approximately $46,000. PFG Advisors bought a new position in shares of Prospect Capital in the fourth quarter valued at approximately $57,000. Independent Advisor Alliance purchased a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $62,000. Finally, Naviter Wealth LLC bought a new stake in Prospect Capital during the fourth quarter worth $2,216,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Prospect Capital Price Performance

PSEC opened at $4.26 on Friday. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $5.72. The company’s 50-day moving average price is $4.32 and its two-hundred day moving average price is $4.68. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -21.30 and a beta of 0.94. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60.

Prospect Capital Announces Dividend

The company also recently disclosed a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.045 per share. 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 -270.00%.

Insiders Place Their Bets

In other Prospect Capital news, CEO John F. Barry acquired 240,000 shares of Prospect Capital stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $4.30 per share, for a total transaction of $1,032,000.00. Following the purchase, the chief executive officer now owns 82,461,933 shares of the company’s stock, valued at approximately $354,586,311.90. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Gremp bought 19,100 shares of the company’s stock in a transaction 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 transaction, the director now owns 75,153 shares of the company’s stock, valued at approximately $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 4,500,000 shares of company stock valued at $19,345,755 over the last ninety days. 28.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note 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.