Navis Wealth Advisors LLC Acquires Shares of 61,112 Prospect Capital Co. (NASDAQ:PSEC)

Navis Wealth Advisors LLC acquired a new stake in shares of Prospect Capital Co. (NASDAQ:PSEC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 61,112 shares of the financial services provider’s stock, valued at approximately $263,000.

Several other institutional investors have also bought and sold shares of the business. Global Assets Advisory LLC purchased a new stake in shares of Prospect Capital in the third quarter valued at $64,000. Family Wealth Partners LLC purchased a new stake in shares of Prospect Capital in the third quarter valued at $74,000. Captrust Financial Advisors raised its stake in shares of 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 period. AE Wealth Management LLC purchased a new stake in shares of Prospect Capital in the second quarter valued at $80,000. Finally, XTX Topco Ltd purchased a new position in Prospect Capital in the 3rd quarter worth about $88,000. Institutional investors own 9.06% of the company’s stock.

Insider Buying and Selling at Prospect Capital

In other news, CEO John F. Barry purchased 1,000,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were acquired at an average cost of $4.78 per share, for a total transaction of $4,780,000.00. Following the acquisition, the chief executive officer now owns 77,465,298 shares of the company’s stock, valued at approximately $370,284,124.44. This represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO M Grier Eliasek purchased 210,000 shares of the stock in a transaction dated Friday, November 29th. The stock was purchased at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the acquisition, the chief operating officer now directly owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. This represents a 10.93 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 5,273,173 shares of company stock valued at $23,701,420. Company insiders own 27.10% of the company’s stock.

Analyst Ratings Changes

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

Prospect Capital Stock Performance

PSEC stock opened at $4.38 on Friday. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $6.24. The firm’s 50-day moving average is $4.42 and its 200 day moving average is $4.93. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $196.31 million for the quarter. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be given a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 12.33%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is -207.69%.

About Prospect Capital

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.