Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires 24,000 Shares of Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry bought 24,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were purchased at an average price of $4.30 per share, for a total transaction of $103,200.00. Following the completion of the transaction, the chief executive officer now owns 82,509,933 shares of the company’s stock, valued at $354,792,711.90. This represents a 0.03 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Prospect Capital Price Performance

PSEC stock traded down $0.04 on Friday, reaching $4.22. The company had a trading volume of 2,899,350 shares, compared to its average volume of 2,586,611. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The company’s fifty day moving average is $4.32 and its 200 day moving average is $4.68. The company has a market cap of $1.88 billion, a P/E ratio of -21.10 and a beta of 0.94. Prospect Capital Co. has a 1 year low of $4.09 and a 1 year high of $5.72.

Prospect Capital Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a dividend of $0.045 per share. This represents a dividend yield of 12.47%. The ex-dividend date of this dividend was Wednesday, February 26th. Prospect Capital’s payout ratio is currently -270.00%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Prostatis Group LLC purchased a new stake in shares of Prospect Capital during the fourth quarter worth about $98,000. Palogic Value Management L.P. boosted its position in Prospect Capital by 50.8% during the fourth quarter. Palogic Value Management L.P. now owns 351,294 shares of the financial services provider’s stock worth $1,514,000 after acquiring an additional 118,400 shares during the last quarter. Comprehensive Money Management Services LLC purchased a new stake in Prospect Capital in the 4th quarter worth approximately $72,000. Ameriflex Group Inc. acquired a new position in Prospect Capital in the 4th quarter valued at $62,000. Finally, Alpine Global Management LLC acquired a new stake in shares of Prospect Capital during the fourth quarter worth $346,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

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.