Samalin Investment Counsel LLC Buys New Position in Prospect Capital Co. (NASDAQ:PSEC)

Samalin Investment Counsel LLC bought a new stake in Prospect Capital Co. (NASDAQ:PSEC) during the 4th quarter, Holdings Channel.com reports. The firm bought 14,500 shares of the financial services provider’s stock, valued at approximately $62,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Kovack Advisors Inc. boosted its holdings in Prospect Capital by 1.9% in the fourth quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider’s stock valued at $625,000 after acquiring an additional 2,732 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its holdings in Prospect Capital by 27.8% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 3,467 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Prospect Capital by 34.9% in the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,686 shares during the last quarter. Tcfg Wealth Management LLC boosted its holdings in Prospect Capital by 1.7% in the fourth quarter. Tcfg Wealth Management LLC now owns 269,580 shares of the financial services provider’s stock valued at $1,162,000 after acquiring an additional 4,396 shares during the last quarter. Finally, WMG Financial Advisors LLC boosted its holdings in Prospect Capital by 22.3% in the fourth quarter. WMG Financial Advisors LLC now owns 27,950 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 5,100 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO John F. Barry bought 24,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were bought at an average cost of $4.30 per share, for a total transaction of $103,200.00. Following the acquisition, the chief executive officer now directly owns 82,509,933 shares in the company, valued at approximately $354,792,711.90. This trade represents a 0.03 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Gremp bought 19,100 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased 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 $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,524,000 shares of company stock worth $19,448,955. Corporate insiders own 28.25% of the company’s stock.

Prospect Capital Price Performance

Prospect Capital stock opened at $4.22 on Monday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.10 and a beta of 0.94. Prospect Capital Co. has a 52-week low of $4.09 and a 52-week high of $5.72. The stock’s 50 day moving average price is $4.32 and its two-hundred day moving average price is $4.67. 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 Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a 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.