D.A. Davidson & CO. Buys 43,753 Shares of Prospect Capital Co. (NASDAQ:PSEC)

D.A. Davidson & CO. lifted its stake in Prospect Capital Co. (NASDAQ:PSEC) by 14.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,831 shares of the financial services provider’s stock after purchasing an additional 43,753 shares during the period. D.A. Davidson & CO.’s holdings in Prospect Capital were worth $1,478,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSEC. Van ECK Associates Corp grew its holdings in shares of Prospect Capital by 23.3% in the third quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after purchasing an additional 1,690,290 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Prospect Capital by 344.0% in the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after purchasing an additional 722,925 shares during the last quarter. Choreo LLC bought a new position in shares of Prospect Capital in the fourth quarter worth about $1,086,000. Arete Wealth Advisors LLC bought a new position in shares of Prospect Capital in the third quarter worth about $1,199,000. Finally, XML Financial LLC grew its holdings in shares of Prospect Capital by 8.1% in the third quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock worth $10,938,000 after purchasing an additional 153,180 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Prospect Capital Stock Down 0.2 %

NASDAQ:PSEC opened at $4.44 on Friday. The firm has a market cap of $1.97 billion, a PE ratio of -22.20 and a beta of 0.99. The company has a 50-day moving average of $4.31 and a 200 day moving average of $4.77. Prospect Capital Co. has a 1-year low of $4.09 and a 1-year high of $5.86. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76.

Prospect Capital Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.045 per share. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s payout ratio is -270.00%.

Insider Buying and Selling at Prospect Capital

In other news, COO M Grier Eliasek purchased 210,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was acquired at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the transaction, the chief operating officer now owns 2,131,130 shares in the company, valued at $10,250,735.30. This represents a 10.93 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John F. Barry purchased 2,000,000 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were purchased at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the transaction, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 2,215,000 shares of company stock valued at $9,613,700. 27.10% 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.