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

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry bought 1,000,000 shares of Prospect Capital stock in a transaction 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 acquisition, the chief executive officer now owns 77,465,298 shares in the company, valued at $370,284,124.44. This represents a 1.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Prospect Capital Stock Down 0.5 %

NASDAQ PSEC opened at $4.74 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $5.09 and its 200 day moving average price is $5.30. Prospect Capital Co. has a twelve month low of $4.15 and a twelve month high of $6.30.

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

Prospect Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders 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 11.39%. Prospect Capital’s payout ratio is -276.92%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PSEC. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Prospect Capital during the second quarter worth about $27,000. MWA Asset Management purchased a new stake in shares of Prospect Capital during the 3rd quarter worth about $53,000. Global Assets Advisory LLC acquired a new stake in Prospect Capital during the 3rd quarter worth approximately $64,000. Family Wealth Partners LLC purchased a new position in Prospect Capital in the third quarter valued at approximately $74,000. Finally, Captrust Financial Advisors lifted its position in Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after buying an additional 3,686 shares in the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

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.