Prospect Capital (NASDAQ:PSEC) CEO John Barry Buys 741,158 Shares

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry purchased 741,158 shares of the business’s stock in a transaction that occurred on Wednesday, September 24th. The shares were bought at an average price of $2.62 per share, for a total transaction of $1,941,833.96. Following the completion of the purchase, the chief executive officer directly owned 85,142,158 shares in the company, valued at $223,072,453.96. This represents a 0.88% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $2.61 on Friday. Prospect Capital Corporation has a 12 month low of $2.57 and a 12 month high of $5.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $1.21 billion, a P/E ratio of -1.95 and a beta of 0.85. The company’s fifty day moving average price is $2.91 and its 200 day moving average price is $3.33.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%. The company had revenue of $166.95 million for the quarter, compared to the consensus estimate of $167.08 million.

Prospect Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be given a dividend of $0.045 per share. This represents a c) annualized dividend and a yield of 20.7%. The ex-dividend date of this dividend is Wednesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is presently -40.30%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Thursday, August 28th. Wall Street Zen raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Prospect Capital presently has a consensus rating of “Sell” and a consensus target price of $2.50.

Institutional Trading of Prospect Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new stake in Prospect Capital during the second quarter worth about $75,680,000. Marshall Wace LLP purchased a new stake in Prospect Capital during the second quarter worth about $12,424,000. Balyasny Asset Management L.P. boosted its holdings in Prospect Capital by 73.9% during the second quarter. Balyasny Asset Management L.P. now owns 5,661,121 shares of the financial services provider’s stock worth $18,002,000 after buying an additional 2,405,299 shares in the last quarter. PFG Investments LLC boosted its holdings in Prospect Capital by 3,430.6% during the first quarter. PFG Investments LLC now owns 624,419 shares of the financial services provider’s stock worth $2,560,000 after buying an additional 606,733 shares in the last quarter. Finally, Tactive Advisors LLC purchased a new stake in Prospect Capital during the second quarter worth about $1,864,000. Hedge funds and other institutional investors 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.