Significant Wealth Partners LLC Invests $340,000 in Prospect Capital Co. (NASDAQ:PSEC)

Significant Wealth Partners LLC bought a new position in Prospect Capital Co. (NASDAQ:PSEC) during the 4th quarter, HoldingsChannel reports. The fund bought 56,738 shares of the financial services provider’s stock, valued at approximately $340,000.

Several other large investors have also made changes to their positions in the company. Signaturefd LLC grew its holdings in shares of Prospect Capital by 62.7% in the 4th quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 3,746 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Prospect Capital by 66.9% in the 4th quarter. J.W. Cole Advisors Inc. now owns 36,410 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 14,592 shares during the last quarter. Roman Butler Fullerton & Co. grew its holdings in shares of Prospect Capital by 3.6% in the 4th quarter. Roman Butler Fullerton & Co. now owns 56,191 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 1,957 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Prospect Capital by 54.3% in the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 2,722 shares during the last quarter. Finally, Zimmermann Investment Management & Planning LLC grew its holdings in shares of Prospect Capital by 11.2% in the 4th quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 2,024 shares during the last quarter. Institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Wells Fargo & Company increased their price objective on shares of Prospect Capital from $5.50 to $5.75 and gave the stock an “underweight” rating in a report on Monday, January 29th.

Prospect Capital Stock Performance

Shares of NASDAQ:PSEC opened at $5.40 on Tuesday. Prospect Capital Co. has a 12 month low of $5.03 and a 12 month high of $6.90. The company’s 50-day moving average price is $5.51 and its two-hundred day moving average price is $5.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.07 and a quick ratio of 1.07.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The firm had revenue of $210.94 million for the quarter, compared to analyst estimates of $226.14 million. On average, sell-side analysts predict that Prospect Capital Co. will post 0.82 EPS for the current year.

Prospect Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 13.33%. The ex-dividend date of this dividend is Thursday, April 25th. Prospect Capital’s dividend payout ratio (DPR) is presently -359.98%.

Insider Activity

In other Prospect Capital news, CFO Dask Kristin Lea Van bought 5,000 shares of Prospect Capital stock in a transaction dated Monday, March 11th. The shares were bought at an average price of $5.44 per share, with a total value of $27,200.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $54,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 26.69% of the company’s stock.

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.