Strategic Financial Concepts LLC Buys 27,935 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Strategic Financial Concepts LLC increased its stake in Prospect Capital Co. (NASDAQ:PSEC) by 131.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,134 shares of the financial services provider’s stock after buying an additional 27,935 shares during the period. Strategic Financial Concepts LLC’s holdings in Prospect Capital were worth $212,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC raised its position in shares of Prospect Capital by 101.4% in the 3rd quarter. CWM LLC now owns 19,310 shares of the financial services provider’s stock worth $103,000 after acquiring an additional 9,721 shares in the last quarter. Inspire Investing LLC raised its holdings in Prospect Capital by 21.0% in the third quarter. Inspire Investing LLC now owns 76,885 shares of the financial services provider’s stock worth $411,000 after purchasing an additional 13,335 shares in the last quarter. Teamwork Financial Advisors LLC lifted its position in Prospect Capital by 17.3% during the third quarter. Teamwork Financial Advisors LLC now owns 63,515 shares of the financial services provider’s stock valued at $340,000 after buying an additional 9,380 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of Prospect Capital during the 3rd quarter valued at $129,000. Finally, International Assets Investment Management LLC grew its position in shares of Prospect Capital by 344.0% in the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after buying an additional 722,925 shares during the period. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO John F. Barry purchased 205,900 shares of Prospect Capital stock in a transaction that occurred on Friday, November 15th. The stock was bought at an average price of $4.40 per share, with a total value of $905,960.00. Following the completion of the transaction, the chief executive officer now directly owns 72,612,839 shares of the company’s stock, valued at approximately $319,496,491.60. The trade was a 0.28 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO M Grier Eliasek acquired 210,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was acquired at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the transaction, the chief operating officer now directly owns 2,131,130 shares in the company, valued at $10,250,735.30. This represents a 10.93 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 5,273,173 shares of company stock worth $23,701,420 over the last three months. 27.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Prospect Capital Stock Performance

Prospect Capital stock opened at $4.35 on Thursday. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $5.86. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $1.90 billion, a P/E ratio of -16.73 and a beta of 0.99. The stock’s 50 day moving average is $4.32 and its 200 day moving average is $4.82.

Prospect Capital Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, February 26th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. Prospect Capital’s dividend payout ratio is currently -207.69%.

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.