Prospect Capital (NASDAQ:PSEC) CEO John Barry Acquires 1,410,633 Shares of Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry bought 1,410,633 shares of the firm’s stock in a transaction on Tuesday, November 10th. The shares were purchased at an average cost of $1.51 per share, with a total value of $2,130,055.83. Following the completion of the transaction, the chief executive officer owned 95,808,672 shares in the company, valued at $144,671,094.72. This represents a 1.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Prospect Capital Stock Up 3.9%

Shares of PSEC stock traded up $0.06 during mid-day trading on Friday, hitting $1.46. The stock had a trading volume of 6,242,784 shares, compared to its average volume of 7,818,376. Prospect Capital Corporation has a 12-month low of $1.29 and a 12-month high of $3.12. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s 50-day moving average is $1.81 and its two-hundred day moving average is $2.30. The firm has a market capitalization of $813.21 million, a P/E ratio of -9.73 and a beta of 0.84.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Prospect Capital had a return on equity of 13.28% and a net margin of 3.80%. The firm had revenue of $151.74 million for the quarter, compared to analyst estimates of $163.14 million. On average, analysts predict that Prospect Capital Corporation will post 0.38 earnings per share for the current fiscal year.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 17th. Stockholders of record on Wednesday, January 27th will be issued a $0.0350 dividend. The ex-dividend date is Wednesday, January 27th. This represents a $0.42 annualized dividend and a dividend yield of 28.8%. Prospect Capital’s payout ratio is currently -280.00%.

Hedge Funds Weigh In On Prospect Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSEC. Integrity Advisory Solutions LLC bought a new position in Prospect Capital in the third quarter worth about $29,000. WINTON GROUP Ltd bought a new stake in shares of Prospect Capital in the 2nd quarter valued at about $35,000. ARS Wealth Advisors Group LLC bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $36,000. Samalin Investment Counsel LLC bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $38,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Prospect Capital by 55.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock worth $39,000 after buying an additional 6,056 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

PSEC has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. Zacks Research raised shares of Prospect Capital to a “hold” rating in a report on Monday, October 5th. Wall Street Zen downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Wells Fargo & Company lowered their target price on Prospect Capital from $2.00 to $1.50 and set an “underweight” rating for the company in a report on Friday, November 6th. One research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $1.50.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company that provides financing to middle-market businesses. Its investments include senior and subordinated debt, structured finance, and equity securities. The company works with businesses seeking capital for purposes such as growth, acquisitions, recapitalizations, and refinancing. Its portfolio spans a range of industries, with investments primarily in companies in the United States. Founded in 2004, Prospect Capital is externally managed by Prospect Capital Management L.P. and is headquartered in New York City.