Prospect Capital Co. (NASDAQ:PSEC) CEO Purchases $4,590,000.00 in Stock

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

Prospect Capital Trading Up 3.9 %

NASDAQ PSEC opened at $4.83 on Monday. The firm has a market cap of $2.11 billion, a PE ratio of -18.58 and a beta of 1.00. Prospect Capital Co. has a 52 week low of $4.15 and a 52 week high of $6.30. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average price of $5.10 and a 200 day moving average price of $5.30.

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

Prospect Capital Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company dropped their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

Hedge Funds Weigh In On Prospect Capital

Several hedge funds have recently modified their holdings of the stock. Sheaff Brock Investment Advisors LLC grew its position in Prospect Capital by 7.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 2,010 shares during the last quarter. Strategies Wealth Advisors LLC grew its holdings in shares of Prospect Capital by 7.2% during the third quarter. Strategies Wealth Advisors LLC now owns 33,957 shares of the financial services provider’s stock valued at $182,000 after buying an additional 2,277 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in shares of Prospect Capital by 4.7% in the 2nd quarter. Moloney Securities Asset Management LLC now owns 63,802 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 2,875 shares during the period. IFG Advisory LLC raised its stake in Prospect Capital by 9.0% in the 2nd quarter. IFG Advisory LLC now owns 36,195 shares of the financial services provider’s stock worth $200,000 after acquiring an additional 3,000 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 3,686 shares during the period. Institutional investors and hedge funds 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.