John Barry Buys 433,000 Shares of Prospect Capital (NASDAQ:PSEC) Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry bought 433,000 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $2.32 per share, with a total value of $1,004,560.00. Following the purchase, the chief executive officer owned 87,122,376 shares of the company’s stock, valued at approximately $202,123,912.32. This represents a 0.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prospect Capital Price Performance

PSEC stock opened at $2.41 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.79 and a current ratio of 0.79. Prospect Capital Corporation has a 1 year low of $2.11 and a 1 year high of $3.50. The firm has a market cap of $1.21 billion, a P/E ratio of -6.51 and a beta of 0.82. The stock has a 50-day simple moving average of $2.54 and a 200-day simple moving average of $2.66.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.The business had revenue of $150.07 million during the quarter, compared to analyst estimates of $163.23 million.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 27th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Thursday, August 27th. This represents a c) dividend on an annualized basis and a yield of 17.4%. Prospect Capital’s dividend payout ratio is currently -113.51%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PSEC. Wall Street Zen raised Prospect Capital from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a report on Tuesday, April 21st. Finally, Wells Fargo & Company reduced their price target on Prospect Capital from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, May 12th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Sell” and an average target price of $2.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Prospect Capital by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 10,255,640 shares of the financial services provider’s stock worth $28,203,000 after buying an additional 866,860 shares during the last quarter. Marshall Wace LLP raised its position in shares of Prospect Capital by 70.7% during the 3rd quarter. Marshall Wace LLP now owns 6,668,376 shares of the financial services provider’s stock worth $18,338,000 after purchasing an additional 2,761,351 shares during the period. Millennium Management LLC raised its position in shares of Prospect Capital by 356.3% during the 3rd quarter. Millennium Management LLC now owns 6,231,987 shares of the financial services provider’s stock worth $17,138,000 after purchasing an additional 4,866,312 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Prospect Capital by 73.9% during the 2nd quarter. Balyasny Asset Management L.P. now owns 5,661,121 shares of the financial services provider’s stock worth $18,002,000 after purchasing an additional 2,405,299 shares during the period. Finally, UBS Group AG raised its position in shares of Prospect Capital by 44.5% during the 4th quarter. UBS Group AG now owns 4,989,986 shares of the financial services provider’s stock worth $12,924,000 after purchasing an additional 1,536,808 shares during the period. Institutional investors own 9.06% of the company’s stock.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.