Prospect Capital Co. (NASDAQ:PSEC) Shares Bought by Kovack Advisors Inc.

Kovack Advisors Inc. raised its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 1.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 145,095 shares of the financial services provider’s stock after buying an additional 2,732 shares during the period. Kovack Advisors Inc.’s holdings in Prospect Capital were worth $625,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSEC. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Prospect Capital by 7.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 2,010 shares during the last quarter. Cutter & CO Brokerage Inc. grew its holdings in shares of Prospect Capital by 27.8% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 3,467 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Prospect Capital by 34.9% during the third 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 last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Prospect Capital by 18.0% during the third quarter. J.W. Cole Advisors Inc. now owns 25,424 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 3,877 shares during the last quarter. Finally, Tcfg Wealth Management LLC grew its holdings in shares of Prospect Capital by 1.7% during the fourth 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 during the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $4.40 on Friday. The stock’s 50-day moving average is $4.32 and its two-hundred day moving average is $4.75. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -22.00 and a beta of 0.99. Prospect Capital Co. has a 1 year low of $4.09 and a 1 year high of $5.72. 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 Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be issued a dividend of $0.045 per share. This represents a dividend yield of 12.47%. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s dividend payout ratio is currently -270.00%.

Insider Buying and Selling

In related news, CEO John F. Barry purchased 2,000,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average price of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 79,477,549 shares in the company, valued at $340,958,685.21. This represents a 2.58 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 27.10% of the company’s stock.

Analysts Set New Price Targets

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

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.