Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CFO Buys $74,925.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CFO Dask Kristin Lea Van purchased 3,330 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were bought at an average price of $22.50 per share, with a total value of $74,925.00. Following the purchase, the chief financial officer now directly owns 4,539 shares of the company’s stock, valued at $102,127.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $5.53 on Thursday. The stock has a fifty day moving average price of $5.51 and a 200 day moving average price of $5.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $2.31 billion, a PE ratio of 16.26 and a beta of 1.01. Prospect Capital Co. has a 1 year low of $5.03 and a 1 year high of $6.69.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $202.22 million during the quarter, compared to the consensus estimate of $214.70 million. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%.

Prospect Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, August 28th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 13.02%. The ex-dividend date of this dividend is Wednesday, August 28th. Prospect Capital’s payout ratio is 211.76%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PSEC shares. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, May 31st. Wells Fargo & Company cut their target price on Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, May 16th.

Hedge Funds Weigh In On Prospect Capital

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Prospect Capital by 11.7% during the 1st quarter. Van ECK Associates Corp now owns 6,880,161 shares of the financial services provider’s stock worth $37,978,000 after acquiring an additional 719,010 shares in the last quarter. LSV Asset Management grew its holdings in shares of Prospect Capital by 17.2% during the fourth quarter. LSV Asset Management now owns 2,035,654 shares of the financial services provider’s stock valued at $12,194,000 after purchasing an additional 298,400 shares during the last quarter. XML Financial LLC raised its holdings in shares of Prospect Capital by 29.1% during the first quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock valued at $9,455,000 after buying an additional 386,266 shares during the last quarter. Advisors Asset Management Inc. grew its position in Prospect Capital by 7.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 614,524 shares of the financial services provider’s stock valued at $3,718,000 after buying an additional 40,375 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in Prospect Capital by 27.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 464,374 shares of the financial services provider’s stock valued at $2,809,000 after purchasing an additional 100,982 shares in the last quarter. Hedge funds and other institutional investors own 9.06% 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.