Concorde Asset Management LLC Buys Shares of 29,250 Prospect Capital Co. (NASDAQ:PSEC)

Concorde Asset Management LLC purchased a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 29,250 shares of the financial services provider’s stock, valued at approximately $126,000.

Other institutional investors have also modified their holdings of the company. Navis Wealth Advisors LLC acquired a new stake in Prospect Capital during the fourth quarter worth approximately $263,000. XTX Topco Ltd acquired a new stake in shares of Prospect Capital during the third quarter worth $88,000. Ridgeline Wealth LLC acquired a new stake in shares of Prospect Capital during the fourth quarter worth $407,000. Atria Wealth Solutions Inc. grew its position in shares of Prospect Capital by 158.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 38,923 shares during the period. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new position in Prospect Capital in the fourth quarter valued at $7,880,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

Insider Buying and Selling

In other Prospect Capital news, Director William Gremp acquired 19,100 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was bought at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the purchase, the director now directly owns 75,153 shares in the company, valued at $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John F. Barry acquired 240,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $4.20 per share, with a total value of $1,008,000.00. Following the transaction, the chief executive officer now directly owns 81,981,933 shares of the company’s stock, valued at approximately $344,324,118.60. This represents a 0.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Saturday.

Prospect Capital Price Performance

Prospect Capital stock opened at $3.56 on Friday. 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 company has a market cap of $1.59 billion, a price-to-earnings ratio of -17.80 and a beta of 0.85. Prospect Capital Co. has a 1 year low of $3.39 and a 1 year high of $5.72. The firm has a 50 day moving average price of $4.17 and a 200 day moving average price of $4.50.

Prospect Capital Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were issued a dividend of $0.045 per share. The ex-dividend date was Wednesday, February 26th. This represents a dividend yield of 12.47%. Prospect Capital’s payout ratio is -270.00%.

Prospect Capital 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.