Prospect Capital Co. (NASDAQ:PSEC) CEO Buys $8,580,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 2,000,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was acquired at an average price of $4.29 per share, for a total transaction of $8,580,000.00. Following the completion of the transaction, the chief executive officer now directly owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Prospect Capital Trading Down 1.6 %

Shares of PSEC stock opened at $4.26 on Friday. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $6.26. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -16.38 and a beta of 0.97. The firm has a 50-day moving average price of $4.69 and a 200 day moving average price of $5.11. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%. The business had revenue of $196.31 million during the quarter.

Prospect Capital Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be given a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 12.68%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is currently -207.69%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Hedge Funds Weigh In On Prospect Capital

Several large investors have recently added to or reduced their stakes in the business. Rothschild Investment LLC purchased a new stake in Prospect Capital in the 2nd quarter valued at about $27,000. MWA Asset Management acquired a new stake in shares of Prospect Capital in the third quarter worth approximately $53,000. Global Assets Advisory LLC purchased a new stake in Prospect Capital in the third quarter valued at approximately $64,000. Family Wealth Partners LLC acquired a new position in Prospect Capital during the third quarter worth approximately $74,000. Finally, Captrust Financial Advisors raised its stake in Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares during the period. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

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.