Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry Purchases 2,000,000 Shares

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 2,000,000 shares of the stock in a transaction on Tuesday, December 24th. The stock was bought at an average price of $4.29 per share, with a total value of $8,580,000.00. Following the transaction, the chief executive officer now directly owns 79,477,549 shares in the company, valued at approximately $340,958,685.21. This represents a 2.58 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prospect Capital Trading Down 0.7 %

PSEC stock traded down $0.03 during midday trading on Friday, reaching $4.26. The company’s stock had a trading volume of 3,475,811 shares, compared to its average volume of 2,495,442. 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 52 week low of $4.09 and a 52 week high of $6.26. The business’s 50-day simple moving average is $4.71 and its 200-day simple moving average is $5.12. The stock has a market cap of $1.86 billion, a PE ratio of -16.38 and a beta of 0.97.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results 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. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%. The company had revenue of $196.31 million during the quarter.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.045 per share. This represents a $0.54 annualized dividend and a dividend yield of 12.68%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is -207.69%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Wells Fargo & Company cut their price target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th.

Institutional Investors Weigh In On Prospect Capital

Institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at about $27,000. MWA Asset Management acquired a new stake in Prospect Capital in the 3rd quarter valued at $53,000. Global Assets Advisory LLC bought a new stake in Prospect Capital during the third quarter worth about $64,000. Family Wealth Partners LLC acquired a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $74,000. Finally, Captrust Financial Advisors lifted its stake in 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 last quarter. 9.06% of the stock is owned by institutional investors.

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.