Prospect Capital Co. (NASDAQ:PSEC) Shares Sold by Garden State Investment Advisory Services LLC

Garden State Investment Advisory Services LLC reduced its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 12.8% during the 4th quarter, Holdings Channel reports. The fund owned 77,448 shares of the financial services provider’s stock after selling 11,338 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Prospect Capital were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of Prospect Capital during the 4th quarter valued at $7,880,000. Envestnet Asset Management Inc. raised its position in shares of Prospect Capital by 4,160.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock valued at $4,080,000 after purchasing an additional 924,428 shares during the period. Naviter Wealth LLC acquired a new position in shares of Prospect Capital during the 4th quarter worth about $2,216,000. DnB Asset Management AS boosted its holdings in Prospect Capital by 3.1% in the 4th quarter. DnB Asset Management AS now owns 383,942 shares of the financial services provider’s stock valued at $1,655,000 after purchasing an additional 11,648 shares during the period. Finally, Palogic Value Management L.P. grew its position in Prospect Capital by 50.8% during the fourth quarter. Palogic Value Management L.P. now owns 351,294 shares of the financial services provider’s stock worth $1,514,000 after buying an additional 118,400 shares in the last quarter. Institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

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

Prospect Capital Price Performance

Shares of PSEC opened at $3.58 on Wednesday. The stock’s 50-day moving average price is $4.14 and its two-hundred day moving average price is $4.48. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.60 billion, a P/E ratio of -17.90 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.

Prospect Capital Dividend Announcement

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

Insiders Place Their Bets

In other Prospect Capital news, Director William Gremp purchased 19,100 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 75,153 shares in the company, valued at approximately $322,406.37. This trade represents a 34.07 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John F. Barry acquired 24,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were bought at an average price of $4.24 per share, with a total value of $101,760.00. Following the completion of the transaction, the chief executive officer now owns 82,594,540 shares in the company, valued at $350,200,849.60. This represents a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,548,000 shares of company stock valued at $10,970,715 in the last 90 days. 28.25% of the stock is currently owned by insiders.

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.