Independent Advisor Alliance Purchases New Shares in Prospect Capital Co. (NASDAQ:PSEC)

Independent Advisor Alliance acquired a new stake in Prospect Capital Co. (NASDAQ:PSEC) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 14,420 shares of the financial services provider’s stock, valued at approximately $62,000.

A number of other large investors have also modified their holdings of the company. Naviter Wealth LLC acquired a new position in shares of Prospect Capital in the fourth quarter worth about $2,216,000. WMG Financial Advisors LLC raised its position in shares of 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 worth $120,000 after acquiring an additional 5,100 shares during the period. Kovack Advisors Inc. raised its position in shares of Prospect Capital by 1.9% in the fourth quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 2,732 shares during the period. Cutter & CO Brokerage Inc. raised its position in shares of 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 worth $69,000 after acquiring an additional 3,467 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of Prospect Capital by 158.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider’s stock worth $274,000 after acquiring an additional 38,923 shares during the period. Institutional investors and hedge funds own 9.06% of the company’s stock.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, CEO John F. Barry bought 2,000,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was acquired 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 of the company’s stock, valued at $340,958,685.21. This represents a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Gremp bought 19,100 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were acquired at an average cost of $4.29 per share, with a total value of $81,939.00. Following the acquisition, the director now directly owns 75,153 shares of the company’s stock, valued at approximately $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,500,000 shares of company stock valued at $19,345,755 over the last ninety days. Corporate insiders own 28.25% of the company’s stock.

Analyst Upgrades and Downgrades

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

Prospect Capital Stock Performance

PSEC opened at $4.26 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The company has a market cap of $1.90 billion, a price-to-earnings ratio of -21.30 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 firm’s fifty day simple moving average is $4.32 and its two-hundred day simple moving average is $4.68.

Prospect Capital Dividend Announcement

The business also recently disclosed 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 yield of 12.47%. The ex-dividend date was Wednesday, February 26th. Prospect Capital’s payout ratio is -270.00%.

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.