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

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 1,000,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average price of $4.59 per share, with a total value of $4,590,000.00. Following the completion of the transaction, the chief executive officer now owns 75,465,285 shares of the company’s stock, valued at approximately $346,385,658.15. This trade represents a 1.34 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Prospect Capital Trading Up 3.9 %

Shares of Prospect Capital stock opened at $4.83 on Friday. The company’s fifty day simple moving average is $5.10 and its two-hundred day simple moving average is $5.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. Prospect Capital Co. has a 12-month low of $4.15 and a 12-month high of $6.30.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $196.31 million for the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 11.18%. Prospect Capital’s dividend payout ratio is presently -276.92%.

Institutional Trading of Prospect Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in Prospect Capital by 23.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock valued at $47,376,000 after acquiring an additional 1,690,290 shares in the last quarter. Y.D. More Investments Ltd raised its position in shares of Prospect Capital by 303.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock worth $29,064,000 after acquiring an additional 3,808,560 shares in the last quarter. XML Financial LLC lifted its stake in shares of Prospect Capital by 8.1% in the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after purchasing an additional 153,180 shares during the period. International Assets Investment Management LLC grew its position in shares of Prospect Capital by 344.0% in the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after buying an additional 722,925 shares during the period. Finally, TrueMark Investments LLC bought a new position in shares of Prospect Capital in the 2nd quarter worth about $2,107,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSEC. Wells Fargo & Company dropped their target price on 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 downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th.

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.