Dask Kristin Lea Van Acquires 3,330 Shares of Prospect Capital Co. (NASDAQ:PSEC) Stock

Prospect Capital Co. (NASDAQ:PSEC) CFO Dask Kristin Lea Van bought 3,330 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were purchased at an average price of $22.50 per share, with a total value of $74,925.00. Following the purchase, the chief financial officer now owns 4,539 shares of the company’s stock, valued at approximately $102,127.50. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $5.53 on Thursday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 16.26 and a beta of 1.01. Prospect Capital Co. has a one year low of $5.03 and a one year high of $6.69. The company’s 50-day simple moving average is $5.51 and its 200-day simple moving average is $5.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. The firm had revenue of $202.22 million during the quarter, compared to the consensus estimate of $214.70 million.

Prospect Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 13.02%. The ex-dividend date is Wednesday, August 28th. Prospect Capital’s dividend payout ratio (DPR) is 211.76%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PSEC. Van ECK Associates Corp raised its holdings in Prospect Capital by 11.7% during the 1st quarter. Van ECK Associates Corp now owns 6,880,161 shares of the financial services provider’s stock worth $37,978,000 after buying an additional 719,010 shares during the period. LSV Asset Management boosted its position in Prospect Capital by 17.2% during the fourth quarter. LSV Asset Management now owns 2,035,654 shares of the financial services provider’s stock worth $12,194,000 after purchasing an additional 298,400 shares during the period. XML Financial LLC boosted its holdings in Prospect Capital by 29.1% during the first quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock valued at $9,455,000 after acquiring an additional 386,266 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Prospect Capital by 7.0% in the third quarter. Advisors Asset Management Inc. now owns 614,524 shares of the financial services provider’s stock valued at $3,718,000 after acquiring an additional 40,375 shares during the period. Finally, Qube Research & Technologies Ltd grew its position in Prospect Capital by 27.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 464,374 shares of the financial services provider’s stock worth $2,809,000 after purchasing an additional 100,982 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on PSEC shares. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, May 31st. Wells Fargo & Company lowered their target price on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, May 16th.

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.