Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry Buys 837,273 Shares

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 837,273 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were purchased at an average price of $4.47 per share, with a total value of $3,742,610.31. Following the acquisition, the chief executive officer now directly owns 73,450,112 shares in the company, valued at approximately $328,322,000.64. The trade was a 1.15 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Prospect Capital Price Performance

Prospect Capital stock opened at $4.83 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00. The company’s 50 day simple moving average is $5.10 and its 200-day simple moving average is $5.30. Prospect Capital Co. has a 1 year low of $4.15 and a 1 year high of $6.30.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $196.31 million for the quarter.

Prospect Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be given 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 currently -207.69%.

Institutional Trading of Prospect Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Y.D. More Investments Ltd increased its position in shares of Prospect Capital by 303.6% during the second quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock worth $29,064,000 after acquiring an additional 3,808,560 shares during the period. Van ECK Associates Corp grew its stake in Prospect Capital by 23.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after purchasing an additional 1,690,290 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Prospect Capital by 344.0% during the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after purchasing an additional 722,925 shares during the period. XML Financial LLC raised its position in Prospect Capital by 29.1% in the 1st quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock valued at $9,455,000 after purchasing an additional 386,266 shares in the last quarter. Finally, TrueMark Investments LLC purchased a new position in shares of Prospect Capital in the 2nd quarter valued at about $2,107,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSEC has been the subject of several recent analyst reports. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company cut their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th.

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.