Prospect Capital (NASDAQ:PSEC) CEO John Barry Purchases 925,000 Shares

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry purchased 925,000 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $2.72 per share, for a total transaction of $2,516,000.00. Following the purchase, the chief executive officer owned 86,067,158 shares of the company’s stock, valued at approximately $234,102,669.76. This represents a 1.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Prospect Capital Stock Up 1.1%

PSEC traded up $0.03 during trading on Monday, reaching $2.64. The company had a trading volume of 3,354,275 shares, compared to its average volume of 3,222,427. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 1.16. Prospect Capital Corporation has a 12 month low of $2.57 and a 12 month high of $5.41. The business’s fifty day moving average price is $2.91 and its 200 day moving average price is $3.33. The company has a market cap of $1.23 billion, a P/E ratio of -1.97 and a beta of 0.85.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%. The firm had revenue of $166.95 million for the quarter, compared to analyst estimates of $167.08 million.

Prospect Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a c) dividend on an annualized basis and a yield of 20.5%. Prospect Capital’s payout ratio is presently -40.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut their price target on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating on the stock in a research note on Thursday, August 28th. Wall Street Zen upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $2.50.

Hedge Funds Weigh In On Prospect Capital

Institutional investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in Prospect Capital during the second quarter worth $75,680,000. Oppenheimer & Co. Inc. acquired a new position in Prospect Capital during the first quarter worth $70,000. Caxton Associates LLP acquired a new position in Prospect Capital during the first quarter worth $1,517,000. Spire Wealth Management increased its holdings in Prospect Capital by 22.0% during the first quarter. Spire Wealth Management now owns 112,389 shares of the financial services provider’s stock worth $461,000 after buying an additional 20,245 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Prospect Capital by 48.0% during the first quarter. Private Advisor Group LLC now owns 589,686 shares of the financial services provider’s stock worth $2,418,000 after buying an additional 191,354 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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.