Inspire Investing LLC Acquires 16,314 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Inspire Investing LLC increased its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 21.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 93,199 shares of the financial services provider’s stock after buying an additional 16,314 shares during the quarter. Inspire Investing LLC’s holdings in Prospect Capital were worth $402,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Merit Financial Group LLC bought a new stake in shares of Prospect Capital in the fourth quarter worth approximately $79,000. Family Wealth Partners LLC grew its position in Prospect Capital by 52.8% in the 4th quarter. Family Wealth Partners LLC now owns 21,215 shares of the financial services provider’s stock worth $91,000 after purchasing an additional 7,327 shares during the period. Ridgeline Wealth LLC purchased a new stake in Prospect Capital during the 4th quarter valued at $407,000. Legacy Wealth Management LLC MS bought a new position in shares of Prospect Capital during the 3rd quarter valued at $451,000. Finally, Virtu Financial LLC boosted its stake in shares of Prospect Capital by 175.2% in the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock worth $871,000 after buying an additional 103,679 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Analyst Ratings Changes

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

Prospect Capital Stock Performance

Shares of NASDAQ PSEC opened at $4.38 on Monday. Prospect Capital Co. has a 12-month low of $4.09 and a 12-month high of $6.24. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of -16.85 and a beta of 0.99. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm has a 50 day moving average of $4.42 and a 200 day moving average of $4.93.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The firm had revenue of $196.31 million during the quarter. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.33%. Prospect Capital’s payout ratio is currently -207.69%.

Insider Activity at Prospect Capital

In other news, COO M Grier Eliasek bought 210,000 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were bought at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John F. Barry purchased 837,273 shares of the business’s stock in a transaction on Monday, November 18th. The stock was acquired at an average price of $4.47 per share, with a total value of $3,742,610.31. Following the purchase, the chief executive officer now directly owns 73,450,112 shares in the company, valued at $328,322,000.64. This represents a 1.15 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 5,273,173 shares of company stock worth $23,701,420. 27.10% of the stock is owned by company insiders.

Prospect Capital Company 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.