Palogic Value Management L.P. Has $1.51 Million Position in Prospect Capital Co. (NASDAQ:PSEC)

Palogic Value Management L.P. boosted its position in Prospect Capital Co. (NASDAQ:PSEC) by 50.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 351,294 shares of the financial services provider’s stock after purchasing an additional 118,400 shares during the period. Palogic Value Management L.P. owned 0.08% of Prospect Capital worth $1,514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PSEC. Great Valley Advisor Group Inc. acquired a new position in Prospect Capital in the 3rd quarter worth about $105,000. D.A. Davidson & CO. increased its holdings in Prospect Capital by 2.6% in the 3rd quarter. D.A. Davidson & CO. now owns 299,078 shares of the financial services provider’s stock worth $1,600,000 after purchasing an additional 7,641 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Prospect Capital by 99.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 136,249 shares of the financial services provider’s stock worth $729,000 after purchasing an additional 67,920 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Prospect Capital by 34.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after buying an additional 3,686 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $578,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Stock Performance

NASDAQ PSEC opened at $4.26 on Friday. The business’s 50-day moving average price is $4.32 and its two-hundred day moving average price is $4.68. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $5.72. The firm has a market capitalization of $1.90 billion, a PE ratio of -21.30 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 announced a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a dividend yield of 12.47%. Prospect Capital’s payout ratio is -270.00%.

Insider Activity at Prospect Capital

In other news, Director William Gremp purchased 19,100 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were acquired at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the acquisition, the director now owns 75,153 shares in the company, valued at approximately $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 SEC, which can be accessed through this link. Also, CEO John F. Barry bought 2,000,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. This trade represents a 2.58 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,500,000 shares of company stock worth $19,345,755 in the last 90 days. Corporate insiders own 28.25% of the company’s stock.

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.

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.