Glenview Trust co Invests $391,000 in Prospect Capital Co. (NASDAQ:PSEC)

Glenview Trust co purchased a new position in Prospect Capital Co. (NASDAQ:PSEC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,719 shares of the financial services provider’s stock, valued at approximately $391,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSEC. MWA Asset Management purchased a new stake in shares of Prospect Capital in the third quarter worth about $53,000. SMH Capital Advisors Inc. lifted its holdings in shares of Prospect Capital by 43.7% in the third quarter. SMH Capital Advisors Inc. now owns 145,605 shares of the financial services provider’s stock worth $779,000 after buying an additional 44,301 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new stake in shares of Prospect Capital in the third quarter worth about $105,000. D.A. Davidson & CO. lifted its holdings in shares of Prospect Capital by 2.6% in the third quarter. D.A. Davidson & CO. now owns 299,078 shares of the financial services provider’s stock worth $1,600,000 after buying an additional 7,641 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Prospect Capital by 99.4% in the third quarter. BNP Paribas Financial Markets now owns 136,249 shares of the financial services provider’s stock valued at $729,000 after purchasing an additional 67,920 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity at Prospect Capital

In other Prospect Capital news, CEO John F. Barry purchased 2,000,000 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were purchased at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the completion of the purchase, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. The trade was a 2.58 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 4,240,000 shares of company stock valued at $18,228,000 over the last three months. 27.10% of the stock is owned by corporate insiders.

Prospect Capital Trading Up 0.5 %

Shares of PSEC opened at $4.31 on Tuesday. The firm’s 50 day simple moving average is $4.32 and its 200 day simple moving average is $4.70. The company has a market capitalization of $1.92 billion, a P/E ratio of -21.55 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. Prospect Capital Co. has a 1-year low of $4.09 and a 1-year high of $5.72.

Prospect Capital Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be paid a $0.045 dividend. This represents a yield of 12.47%. The ex-dividend date of this dividend is Wednesday, February 26th. Prospect Capital’s dividend payout ratio is currently -270.00%.

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.