Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry Acquires 1,000,000 Shares

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

Prospect Capital Stock Down 1.5 %

Shares of PSEC stock traded down $0.07 during mid-day trading on Tuesday, hitting $4.74. The stock had a trading volume of 2,544,568 shares, compared to its average volume of 2,377,038. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The firm has a market capitalization of $2.07 billion, a P/E ratio of -18.23 and a beta of 1.00. Prospect Capital Co. has a 12-month low of $4.15 and a 12-month high of $6.30. The firm’s 50-day moving average is $5.09 and its two-hundred day moving average is $5.30.

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, topping analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The company had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. This represents a $0.54 dividend on an annualized basis and a yield of 11.39%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is -276.92%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Prospect Capital

Several institutional investors have recently added to or reduced their stakes in the stock. Rothschild Investment LLC acquired a new stake in shares of Prospect Capital in the 2nd quarter worth approximately $27,000. MWA Asset Management acquired a new stake in Prospect Capital in the 3rd quarter valued at $53,000. Global Assets Advisory LLC acquired a new stake in shares of Prospect Capital during the third quarter valued at about $64,000. Family Wealth Partners LLC bought a new position in shares of Prospect Capital during the third quarter worth about $74,000. Finally, Captrust Financial Advisors lifted its position in shares of Prospect Capital by 34.9% during 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 last quarter. Institutional investors and hedge funds 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.