DnB Asset Management AS Increases Stake in Prospect Capital Co. (NASDAQ:PSEC)

DnB Asset Management AS raised its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 383,942 shares of the financial services provider’s stock after purchasing an additional 11,648 shares during the period. DnB Asset Management AS owned 0.09% of Prospect Capital worth $1,655,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Kovack Advisors Inc. increased its holdings in shares of Prospect Capital by 1.9% during the 4th quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider’s stock worth $625,000 after buying an additional 2,732 shares during the last quarter. Modern Wealth Management LLC raised its holdings in shares of Prospect Capital by 9.3% in the 4th quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 2,774 shares during the period. Cutter & CO Brokerage Inc. lifted its stake in shares of Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 3,467 shares in the last quarter. Captrust Financial Advisors grew its holdings 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, Tcfg Wealth Management LLC increased its position in Prospect Capital by 1.7% during the 4th quarter. Tcfg Wealth Management LLC now owns 269,580 shares of the financial services provider’s stock worth $1,162,000 after purchasing an additional 4,396 shares in the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Stock Performance

Shares of NASDAQ:PSEC opened at $4.06 on Wednesday. The business’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $4.61. The company has a market cap of $1.81 billion, a P/E ratio of -20.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. Prospect Capital Co. has a one year low of $4.00 and a one year high of $5.72.

Prospect Capital Dividend Announcement

The company also recently announced a dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were given 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 currently -270.00%.

Insider Transactions at Prospect Capital

In other Prospect Capital news, Director William Gremp bought 19,100 shares of the company’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 transaction, the director now owns 75,153 shares in the company, valued at $322,406.37. The trade was a 34.07 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John F. Barry purchased 2,000,000 shares of Prospect Capital stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $4.32 per share, with a total value of $8,640,000.00. Following the acquisition, the chief executive officer now directly owns 81,501,933 shares of the company’s stock, valued at $352,088,350.56. The trade was a 2.52 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 2,548,000 shares of company stock valued at $10,970,715. Corporate insiders own 28.25% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Prospect Capital Company 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.