Thomas J. Herzfeld Advisors Inc. Acquires New Shares in Prospect Capital Co. (NASDAQ:PSEC)

Thomas J. Herzfeld Advisors Inc. bought a new position in shares of Prospect Capital Co. (NASDAQ:PSEC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 1,828,411 shares of the financial services provider’s stock, valued at approximately $7,880,000. Prospect Capital accounts for approximately 2.5% of Thomas J. Herzfeld Advisors Inc.’s holdings, making the stock its 8th biggest holding. Thomas J. Herzfeld Advisors Inc. owned about 0.42% of Prospect Capital at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PSEC. Navis Wealth Advisors LLC acquired a new position in shares of Prospect Capital in the 4th quarter valued at $263,000. XTX Topco Ltd acquired a new position in Prospect Capital in the third quarter valued at about $88,000. Ridgeline Wealth LLC bought a new stake in shares of Prospect Capital in the fourth quarter worth about $407,000. Atria Wealth Solutions Inc. raised its position in shares of Prospect Capital by 158.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 38,923 shares during the period. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Prospect Capital by 131.8% during the 4th 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 in the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Prospect Capital

In other Prospect Capital news, CEO John F. Barry acquired 24,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was bought at an average cost of $4.24 per share, with a total value of $101,760.00. Following the completion of the transaction, the chief executive officer now directly owns 82,594,540 shares in the company, valued at approximately $350,200,849.60. This represents a 0.03 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William Gremp bought 19,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the acquisition, the director now directly owns 75,153 shares in the company, valued at $322,406.37. The trade was a 34.07 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 2,548,000 shares of company stock worth $10,970,715 in the last three months. Insiders own 28.25% of the company’s stock.

Wall Street Analyst Weigh In

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

Prospect Capital Price Performance

PSEC stock opened at $4.10 on Tuesday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The stock has a market cap of $1.83 billion, a PE ratio of -20.50 and a beta of 0.94. Prospect Capital Co. has a 1 year low of $4.00 and a 1 year high of $5.72. The stock has a 50-day moving average price of $4.31 and a two-hundred day moving average price of $4.62.

Prospect Capital Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders 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 yield of 12.47%. Prospect Capital’s dividend payout ratio (DPR) is presently -270.00%.

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.