Prospect Capital Co. (NASDAQ:PSEC) CEO Buys $4,590,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $4.59 per share, with a total value of $4,590,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 75,465,285 shares in the company, valued at approximately $346,385,658.15. This represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Prospect Capital Stock Performance

PSEC opened at $4.83 on Friday. The business has a 50 day moving average price of $5.10 and a two-hundred day moving average price of $5.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00. Prospect Capital Co. has a 1-year low of $4.15 and a 1-year high of $6.30.

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 the consensus estimate of $0.17 by $0.04. The business had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a dividend yield of 11.18%. Prospect Capital’s dividend payout ratio is currently -276.92%.

Institutional Trading of Prospect Capital

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

Analysts Set New Price Targets

A number of research analysts have recently commented on PSEC shares. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company lowered their target price on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th.

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.