Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires $3,742,610.31 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 837,273 shares of Prospect Capital stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $4.47 per share, with a total value of $3,742,610.31. Following the acquisition, the chief executive officer now directly owns 73,450,112 shares in the company, valued at $328,322,000.64. This trade represents a 1.15 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Prospect Capital Trading Up 3.9 %

PSEC stock opened at $4.83 on Friday. Prospect Capital Co. has a 12-month low of $4.15 and a 12-month high of $6.30. The business’s 50-day moving average is $5.10 and its 200 day moving average is $5.30. 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 stock has a market cap of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $196.31 million during 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. Stockholders of record on Wednesday, January 29th will be given a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is -207.69%.

Hedge Funds Weigh In On Prospect Capital

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets lifted its stake in Prospect Capital by 275.0% in the 1st quarter. BNP Paribas Financial Markets now owns 43,616 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 31,985 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Prospect Capital by 51.2% in the first quarter. Janney Montgomery Scott LLC now owns 23,633 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 8,000 shares during the last quarter. ProShare Advisors LLC lifted its position in Prospect Capital by 18.8% during the first quarter. ProShare Advisors LLC now owns 51,349 shares of the financial services provider’s stock worth $283,000 after buying an additional 8,142 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Prospect Capital during the first quarter worth $91,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Prospect Capital by 13.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 294,706 shares of the financial services provider’s stock valued at $1,629,000 after buying an additional 34,035 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSEC. StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced 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.

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.