Prospect Capital Co. (NASDAQ:PSEC) CEO Buys $3,742,610.31 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 837,273 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average price of $4.47 per share, for a total transaction of $3,742,610.31. Following the purchase, the chief executive officer now owns 73,450,112 shares of the company’s stock, valued at approximately $328,322,000.64. This represents a 1.15 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Prospect Capital Stock Performance

Shares of Prospect Capital stock opened at $4.59 on Thursday. Prospect Capital Co. has a 1 year low of $4.15 and a 1 year high of $6.30. The firm’s 50-day simple moving average is $5.13 and its 200-day simple moving average is $5.31. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.76%. Prospect Capital’s payout ratio is -276.92%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PSEC. StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company cut their price target on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, August 30th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PSEC. Rothschild Investment LLC bought a new stake in shares of Prospect Capital in the 2nd quarter worth approximately $27,000. MWA Asset Management acquired a new stake in Prospect Capital in the third quarter worth $53,000. Global Assets Advisory LLC acquired a new stake in Prospect Capital in the third quarter worth $64,000. Family Wealth Partners LLC bought a new stake in Prospect Capital in the third quarter valued at $74,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,686 shares during the period. 9.06% of the stock is currently owned by institutional investors.

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.