EMC Capital Management Acquires 10,762 Shares of Prospect Capital Co. (NASDAQ:PSEC)

EMC Capital Management increased its holdings in Prospect Capital Co. (NASDAQ:PSEC) by 107.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,762 shares of the financial services provider’s stock after purchasing an additional 10,762 shares during the quarter. EMC Capital Management’s holdings in Prospect Capital were worth $89,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PSEC. Creative Planning boosted its holdings in shares of Prospect Capital by 387.3% in the 2nd quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after acquiring an additional 139,842 shares during the last quarter. Strategies Wealth Advisors LLC raised its position in Prospect Capital by 7.2% during the third quarter. Strategies Wealth Advisors LLC now owns 33,957 shares of the financial services provider’s stock valued at $182,000 after acquiring an additional 2,277 shares in the last quarter. CWM LLC boosted its position in 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 purchasing an additional 9,721 shares in the last quarter. Family Wealth Partners LLC acquired a new stake in shares of Prospect Capital during the 3rd quarter worth approximately $74,000. Finally, Inspire Investing LLC increased its holdings in shares of Prospect Capital by 21.0% during the 3rd quarter. Inspire Investing LLC now owns 76,885 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 13,335 shares in the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $4.30 on Friday. 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 Co. has a twelve month low of $4.09 and a twelve month high of $6.04. The business has a 50-day moving average price of $4.39 and a 200 day moving average price of $4.89. The firm has a market cap of $1.88 billion, a PE ratio of -16.54 and a beta of 0.99.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.56%. Prospect Capital’s payout ratio is currently -207.69%.

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.

Insider Buying and Selling

In related news, COO M Grier Eliasek bought 210,000 shares of the stock in a transaction dated Friday, November 29th. The shares were acquired at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the acquisition, the chief operating officer now directly owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. This trade represents a 10.93 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John F. Barry purchased 837,273 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $4.47 per share, with a total value of $3,742,610.31. Following the completion of the transaction, the chief executive officer now directly owns 73,450,112 shares of the company’s stock, valued at approximately $328,322,000.64. This represents a 1.15 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 5,273,173 shares of company stock worth $23,701,420. 27.10% of the stock is owned by corporate insiders.

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.