Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires $8,640,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry bought 2,000,000 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $4.32 per share, with a total value of $8,640,000.00. Following the completion of the acquisition, the chief executive officer now owns 81,501,933 shares of the company’s stock, valued at approximately $352,088,350.56. This trade represents a 2.52 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Prospect Capital Trading Up 2.4 %

Shares of NASDAQ PSEC opened at $4.29 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of -21.45 and a beta of 0.94. Prospect Capital Co. has a one year low of $4.09 and a one year high of $5.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $4.32 and a two-hundred day moving average price of $4.70.

Prospect Capital Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, February 26th. This represents a yield of 12.47%. Prospect Capital’s dividend payout ratio is presently -270.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Hedge Funds Weigh In On Prospect Capital

Several institutional investors and hedge funds have recently modified their holdings of PSEC. Sheaff Brock Investment Advisors LLC grew its stake in Prospect Capital by 7.4% in the third quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 2,010 shares in the last quarter. MWA Asset Management acquired a new position in Prospect Capital in the third quarter worth approximately $53,000. SMH Capital Advisors Inc. raised its position in Prospect Capital by 43.7% during the third quarter. SMH Capital Advisors Inc. now owns 145,605 shares of the financial services provider’s stock valued at $779,000 after acquiring an additional 44,301 shares in the last quarter. Great Valley Advisor Group Inc. acquired a new stake in Prospect Capital in the third quarter valued at approximately $105,000. Finally, D.A. Davidson & CO. grew its position in Prospect Capital by 2.6% in the third quarter. D.A. Davidson & CO. now owns 299,078 shares of the financial services provider’s stock worth $1,600,000 after acquiring an additional 7,641 shares in the last quarter. 9.06% of the stock is currently 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.