Prospect Capital Co. (NASDAQ:PSEC) Holdings Raised by DnB Asset Management AS

DnB Asset Management AS increased its position in shares of Prospect Capital Co. (NASDAQ:PSEC) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm 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’s holdings in Prospect Capital were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Navis Wealth Advisors LLC bought a new position in shares of Prospect Capital in the 4th quarter worth about $263,000. XTX Topco Ltd acquired a new stake in Prospect Capital during the third quarter worth about $88,000. Ridgeline Wealth LLC bought a new position in Prospect Capital in the fourth quarter worth about $407,000. Atria Wealth Solutions Inc. boosted its stake in 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 acquiring an additional 38,923 shares during the period. Finally, Strategic Financial Concepts LLC grew its holdings in shares of Prospect Capital by 131.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 49,134 shares of the financial services provider’s stock valued at $212,000 after purchasing an additional 27,935 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Price Performance

NASDAQ PSEC opened at $4.06 on Wednesday. The company has a 50-day moving average price of $4.30 and a two-hundred day moving average price of $4.61. Prospect Capital Co. has a 52 week low of $4.00 and a 52 week high of $5.72. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of -20.30 and a beta of 0.94. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60.

Prospect Capital Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Prospect Capital

In related news, CEO John F. Barry bought 24,000 shares of the stock in a transaction on Monday, March 24th. The shares were purchased at an average price of $4.24 per share, with a total value of $101,760.00. Following the purchase, the chief executive officer now owns 82,594,540 shares in the company, valued at approximately $350,200,849.60. This represents a 0.03 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William Gremp purchased 19,100 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 75,153 shares in the company, valued at $322,406.37. This represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,548,000 shares of company stock worth $10,970,715 in the last three months. 28.25% of the stock is owned by company 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.