TrueMark Investments LLC Has $2.16 Million Position in Prospect Capital Co. (NASDAQ:PSEC)

TrueMark Investments LLC lessened its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 501,917 shares of the financial services provider’s stock after selling 236,235 shares during the period. TrueMark Investments LLC owned approximately 0.12% of Prospect Capital worth $2,163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSEC. PFG Advisors acquired a new position in shares of Prospect Capital in the 4th quarter worth approximately $57,000. Captrust Financial Advisors raised its stake in Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 3,686 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of Prospect Capital during the fourth quarter valued at $62,000. Samalin Investment Counsel LLC acquired a new stake in shares of Prospect Capital in the 4th quarter valued at $62,000. Finally, Cutter & CO Brokerage Inc. increased its position in shares of Prospect Capital by 27.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 3,467 shares in the last quarter. Institutional investors own 9.06% of the company’s stock.

Prospect Capital Price Performance

Prospect Capital stock opened at $4.24 on Wednesday. The business’s fifty day moving average is $4.32 and its two-hundred day moving average is $4.66. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $1.89 billion, a P/E ratio of -21.20 and a beta of 0.94. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72.

Prospect Capital Announces Dividend

The business 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 is currently -270.00%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of 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, Director William Gremp purchased 19,100 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were acquired at an average cost of $4.29 per share, with a total value of $81,939.00. Following the completion of the purchase, the director now directly owns 75,153 shares of the company’s stock, valued at $322,406.37. This trade represents a 34.07 % increase in their ownership of the stock. The purchase was disclosed in a legal filing 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 that occurred on Tuesday, March 11th. The stock was bought at an average price of $4.32 per share, with a total value of $8,640,000.00. Following the transaction, the chief executive officer now directly owns 81,501,933 shares in the company, valued at $352,088,350.56. The trade was a 2.52 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,524,000 shares of company stock valued at $10,868,955 in the last 90 days. 28.25% of the stock is currently owned by insiders.

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.