Prospect Capital (NASDAQ:PSEC) CEO Buys $2,726,315.20 in Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry acquired 1,217,105 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was purchased at an average cost of $2.24 per share, with a total value of $2,726,315.20. Following the completion of the purchase, the chief executive officer directly owned 90,479,988 shares in the company, valued at $202,675,173.12. This represents a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $2.22 on Friday. The stock has a fifty day moving average price of $2.24 and a 200 day moving average price of $2.41. The stock has a market cap of $1.17 billion, a PE ratio of 44.40 and a beta of 0.80. Prospect Capital Corporation has a 1 year low of $2.11 and a 1 year high of $3.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.87.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Thursday, August 20th. The financial services provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. Prospect Capital had a return on equity of 12.15% and a net margin of 19.33%.The company had revenue of $155.76 million for the quarter, compared to analyst estimates of $149.80 million.

Prospect Capital Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 18th. Investors of record on Wednesday, October 28th will be given a $0.035 dividend. The ex-dividend date is Wednesday, October 28th. This represents a c) annualized dividend and a dividend yield of 18.9%. Prospect Capital’s payout ratio is currently 840.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 26th. Wall Street Zen cut shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Two research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell” and an average target price of $2.00.

Institutional Trading of Prospect Capital

Large investors have recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in Prospect Capital in the 2nd quarter valued at about $35,000. GTS Securities LLC acquired a new stake in shares of Prospect Capital during the 2nd quarter worth about $40,000. Private Management Group Inc. boosted its stake in shares of Prospect Capital by 51.7% during the 2nd quarter. Private Management Group Inc. now owns 20,534,804 shares of the financial services provider’s stock worth $47,435,000 after purchasing an additional 6,999,513 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Prospect Capital by 32.7% during the second quarter. Van ECK Associates Corp now owns 9,685,724 shares of the financial services provider’s stock worth $22,374,000 after buying an additional 2,388,990 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of Prospect Capital during the second quarter worth about $49,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.