Kovack Advisors Inc. Raises Holdings in Prospect Capital Co. (NASDAQ:PSEC)

Kovack Advisors Inc. increased its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 145,095 shares of the financial services provider’s stock after acquiring an additional 2,732 shares during the period. Kovack Advisors Inc.’s holdings in Prospect Capital were worth $625,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PSEC. MWA Asset Management purchased a new position in Prospect Capital in the third quarter worth approximately $53,000. Cutter & CO Brokerage Inc. grew its position 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 worth $69,000 after acquiring an additional 3,467 shares during the period. Captrust Financial Advisors lifted its stake in Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares in the last quarter. Merit Financial Group LLC acquired a new position in Prospect Capital during the fourth quarter worth $79,000. Finally, XTX Topco Ltd acquired a new position in Prospect Capital during the third quarter worth $88,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Prospect Capital Stock Up 2.1 %

NASDAQ:PSEC opened at $4.40 on Friday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of -22.00 and a beta of 0.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72. The stock’s fifty day moving average is $4.32 and its two-hundred day moving average is $4.75.

Prospect Capital Dividend Announcement

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

Insider Activity

In related news, CEO John F. Barry acquired 2,000,000 shares of Prospect Capital stock in a transaction dated Tuesday, December 24th. The shares were acquired at an average cost of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the purchase, the chief executive officer now owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 27.10% of the company’s stock.

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.