Prospect Capital (NASDAQ:PSEC) Reaches New 12-Month Low – Here’s Why

Prospect Capital Co. (NASDAQ:PSEC) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $4.00 and last traded at $4.06, with a volume of 893610 shares trading hands. The stock had previously closed at $4.11.

Analyst Ratings Changes

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

Prospect Capital Stock Down 1.0 %

The stock’s 50-day moving average price is $4.30 and its 200-day moving average price is $4.61. 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 stock has a market cap of $1.81 billion, a price-to-earnings ratio of -20.30 and a beta of 0.94.

Prospect Capital Announces Dividend

The company also recently declared a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were given a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a yield of 12.47%. Prospect Capital’s dividend payout ratio (DPR) is currently -270.00%.

Insider Transactions at Prospect Capital

In other Prospect Capital news, Director William Gremp bought 19,100 shares of the stock in a transaction on Tuesday, March 18th. The stock was acquired at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the acquisition, the director now owns 75,153 shares in the company, valued at $322,406.37. This trade represents a 34.07 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John F. Barry purchased 24,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were acquired at an average price of $4.30 per share, for a total transaction of $103,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 82,509,933 shares in the company, valued at approximately $354,792,711.90. This represents a 0.03 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 2,548,000 shares of company stock valued at $10,970,715. Corporate insiders own 28.25% of the company’s stock.

Institutional Trading of Prospect Capital

Several large investors have recently made changes to their positions in PSEC. Kovack Advisors Inc. boosted its holdings in Prospect Capital by 1.9% in the fourth quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 2,732 shares in the last quarter. Modern Wealth Management LLC lifted its holdings in shares of Prospect Capital by 9.3% in the 4th quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 2,774 shares in the last quarter. Cutter & CO Brokerage Inc. grew its position in Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 3,467 shares during the period. Captrust Financial Advisors raised its holdings in Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after buying an additional 3,686 shares during the last quarter. Finally, Global Assets Advisory LLC grew its holdings in shares of Prospect Capital by 33.4% during the fourth quarter. Global Assets Advisory LLC now owns 15,998 shares of the financial services provider’s stock valued at $69,000 after buying an additional 4,006 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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.