Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires $10,125,155.20 in Stock
Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry bought 2,145,160 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were acquired at an average price of $4.72 per share, for a total transaction of $10,125,155.20. Following the transaction, the chief executive officer now owns 64,533,207 shares in the company, valued at $304,596,737.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Shares of NASDAQ:PSEC opened at $4.40 on Thursday. The business’s 50 day simple moving average is $5.71 and its two-hundred day simple moving average is $6.33. The firm has a market cap of $1.49 billion, a P/E ratio of 11.89 and a beta of 0.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.44 and a current ratio of 1.44. Prospect Capital Co. has a 52-week low of $4.00 and a 52-week high of $6.86.
Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Monday, February 10th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. The business had revenue of $161.92 million for the quarter, compared to analyst estimates of $155.84 million. Prospect Capital had a return on equity of 8.74% and a net margin of 20.47%. During the same quarter in the prior year, the company earned $0.22 earnings per share. On average, equities analysts forecast that Prospect Capital Co. will post 0.72 earnings per share for the current fiscal year.
Several equities research analysts recently commented on the company. Zacks Investment Research lowered Prospect Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th. ValuEngine upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 27th. Finally, BidaskClub lowered Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, March 7th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Prospect Capital has an average rating of “Sell” and an average target price of $4.00.
A number of large investors have recently made changes to their positions in the business. Rowland Carmichael Advisors Inc. ADV boosted its holdings in Prospect Capital by 7.9% in the fourth quarter. Rowland Carmichael Advisors Inc. ADV now owns 24,510 shares of the financial services provider’s stock worth $158,000 after acquiring an additional 1,800 shares in the last quarter. Dean Capital Investments Management LLC raised its stake in shares of Prospect Capital by 2.3% in the fourth quarter. Dean Capital Investments Management LLC now owns 81,979 shares of the financial services provider’s stock worth $528,000 after purchasing an additional 1,812 shares during the last quarter. NEXT Financial Group Inc raised its stake in shares of Prospect Capital by 78.4% in the fourth quarter. NEXT Financial Group Inc now owns 4,193 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 1,843 shares during the last quarter. Timber Hill LLC raised its stake in shares of Prospect Capital by 4.1% in the third quarter. Timber Hill LLC now owns 51,000 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 2,000 shares during the last quarter. Finally, BT Wealth Management LLC raised its stake in shares of Prospect Capital by 10.4% in the fourth quarter. BT Wealth Management LLC now owns 23,840 shares of the financial services provider’s stock worth $154,000 after purchasing an additional 2,240 shares during the last quarter. Institutional investors and hedge funds own 14.75% 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.
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