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

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

Prospect Capital Trading Down 1.6 %

Shares of NASDAQ PSEC opened at $4.26 on Friday. The company has a market cap of $1.86 billion, a PE ratio of -16.38 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48. The firm’s 50 day moving average price is $4.69 and its 200-day moving average price is $5.11. Prospect Capital Co. has a 52-week low of $4.09 and a 52-week high of $6.26.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company 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 Dividend Announcement

The company 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 dividend on an annualized basis and a yield of 12.68%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is -207.69%.

Institutional Investors Weigh In On Prospect Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rothschild Investment LLC bought a new stake in shares of Prospect Capital during the 2nd quarter valued at $27,000. Global Assets Advisory LLC bought a new stake in Prospect Capital during the third quarter valued at about $64,000. Family Wealth Partners LLC purchased a new stake in Prospect Capital in the third quarter worth about $74,000. Captrust Financial Advisors raised its stake 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 buying an additional 3,686 shares during the period. Finally, AE Wealth Management LLC purchased a new position in shares of Prospect Capital during the 2nd quarter valued at about $80,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSEC. Wells Fargo & Company lowered their target price on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, August 30th. StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

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.