Cherry Creek Investment Advisors Inc. Buys 31,879 Shares of Prospect Capital Co. (NASDAQ:PSEC)

Cherry Creek Investment Advisors Inc. raised its stake in shares of Prospect Capital Co. (NASDAQ:PSEC) by 199.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 47,838 shares of the financial services provider’s stock after purchasing an additional 31,879 shares during the period. Cherry Creek Investment Advisors Inc.’s holdings in Prospect Capital were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSEC. MWA Asset Management purchased a new position in Prospect Capital in the 3rd quarter worth approximately $53,000. Global Assets Advisory LLC purchased a new position in shares of Prospect Capital in the third quarter worth $64,000. Family Wealth Partners LLC purchased a new position in Prospect Capital during the third quarter valued at $74,000. Captrust Financial Advisors increased its holdings in Prospect Capital by 34.9% in the 3rd 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 last quarter. Finally, Merit Financial Group LLC bought a new position in shares of Prospect Capital during the 4th quarter valued at about $79,000. Hedge funds and other institutional investors own 9.06% 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 Price Performance

Shares of PSEC opened at $4.38 on Tuesday. Prospect Capital Co. has a 12-month low of $4.09 and a 12-month high of $6.19. The firm has a fifty day moving average price of $4.42 and a 200-day moving average price of $4.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48.

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

Prospect Capital Announces Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 12.33%. Prospect Capital’s dividend payout ratio (DPR) is presently -207.69%.

Insider Activity at Prospect Capital

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

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.