Prospect Capital Co. (NASDAQ:PSEC) CEO Purchases $4,780,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 1,000,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was bought at an average price of $4.78 per share, for a total transaction of $4,780,000.00. Following the acquisition, the chief executive officer now owns 77,465,298 shares of the company’s stock, valued at $370,284,124.44. This represents a 1.31 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Prospect Capital Stock Performance

Shares of Prospect Capital stock opened at $4.75 on Thursday. Prospect Capital Co. has a 12 month low of $4.15 and a 12 month high of $6.30. The firm has a market capitalization of $2.07 billion, a P/E ratio of -18.27 and a beta of 1.00. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $5.08 and a two-hundred day simple moving average of $5.29.

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

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 issued a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 11.37%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is -207.69%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Prospect Capital

Large investors have recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in shares of Prospect Capital in the 2nd quarter worth $27,000. MWA Asset Management purchased a new position in shares of Prospect Capital during the 3rd quarter valued at about $53,000. Global Assets Advisory LLC purchased a new stake in Prospect Capital in the 3rd quarter worth approximately $64,000. Family Wealth Partners LLC purchased a new position in Prospect Capital during the third quarter valued at approximately $74,000. Finally, Captrust Financial Advisors boosted its position in shares of Prospect Capital by 34.9% in 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. Hedge funds and other institutional investors own 9.06% of the company’s stock.

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.