John F. Barry Acquires 2,000,000 Shares of Prospect Capital Co. (NASDAQ:PSEC) Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was bought at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the transaction, the chief executive officer now directly owns 79,477,549 shares in the company, valued at $340,958,685.21. This trade represents a 2.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Prospect Capital Stock Down 1.6 %

Shares of NASDAQ:PSEC opened at $4.26 on Friday. Prospect Capital Co. has a fifty-two week low of $4.09 and a fifty-two week high of $6.26. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $4.69 and its 200-day simple moving average is $5.11. The company has a market cap of $1.86 billion, a price-to-earnings ratio of -16.38 and a beta of 0.97.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $196.31 million for the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Prospect Capital

Large investors have recently made changes to their positions in the stock. Rothschild Investment LLC acquired a new position in Prospect Capital during the second quarter worth about $27,000. Global Assets Advisory LLC purchased a new stake in shares of Prospect Capital during the 3rd quarter worth approximately $64,000. Family Wealth Partners LLC acquired a new stake in shares of Prospect Capital in the 3rd quarter worth approximately $74,000. Captrust Financial Advisors increased its stake in Prospect Capital by 34.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 3,686 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in Prospect Capital during the second quarter worth $80,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

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.