Prospect Capital (NASDAQ:PSEC) Hits New 52-Week Low – Here’s What Happened

Prospect Capital Co. (NASDAQ:PSEC) hit a new 52-week low during trading on Monday . The stock traded as low as $4.00 and last traded at $4.06, with a volume of 893610 shares. The stock had previously closed at $4.11.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Prospect Capital Stock Performance

The company has a fifty day moving average of $4.30 and a two-hundred day moving average of $4.61. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -20.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76.

Prospect Capital Announces Dividend

The firm also recently announced a dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th were given a $0.045 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a dividend yield of 12.47%. Prospect Capital’s payout ratio is presently -270.00%.

Insider Buying and Selling

In related news, CEO John F. Barry bought 24,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was purchased at an average cost of $4.24 per share, for a total transaction of $101,760.00. Following the transaction, the chief executive officer now owns 82,594,540 shares in the company, valued at $350,200,849.60. The trade was a 0.03 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Gremp purchased 19,100 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was bought at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the transaction, the director now directly owns 75,153 shares of the company’s stock, valued at $322,406.37. This trade represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is owned by company insiders.

Institutional Trading of Prospect Capital

Large investors have recently bought and sold shares of the business. Prostatis Group LLC acquired a new stake in shares of Prospect Capital in the 4th quarter valued at approximately $98,000. Palogic Value Management L.P. boosted its position in Prospect Capital by 50.8% in the fourth quarter. Palogic Value Management L.P. now owns 351,294 shares of the financial services provider’s stock valued at $1,514,000 after buying an additional 118,400 shares in the last quarter. Comprehensive Money Management Services LLC bought a new stake in shares of Prospect Capital during the fourth quarter worth $72,000. Ameriflex Group Inc. acquired a new position in shares of Prospect Capital during the fourth quarter worth $62,000. Finally, Alpine Global Management LLC bought a new position in shares of Prospect Capital in the 4th quarter valued at $346,000. 9.06% of the stock is owned by institutional investors and hedge funds.

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.