Prospect Capital Co. (NASDAQ:PSEC) CEO Buys $4,780,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 1,000,000 shares of Prospect Capital stock in a transaction that occurred on Friday, November 22nd. The stock was purchased at an average price of $4.78 per share, with a total value of $4,780,000.00. Following the transaction, the chief executive officer now owns 77,465,298 shares of the company’s stock, valued at $370,284,124.44. This trade represents a 1.31 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Prospect Capital Stock Down 1.5 %

PSEC stock traded down $0.07 during midday trading on Tuesday, reaching $4.74. The company had a trading volume of 2,544,568 shares, compared to its average volume of 2,377,038. Prospect Capital Co. has a 1 year low of $4.15 and a 1 year high of $6.30. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2.07 billion, a P/E ratio of -18.23 and a beta of 1.00. The company has a 50 day moving average of $5.09 and a two-hundred day moving average of $5.30.

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

Prospect Capital Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.045 per share. This represents a $0.54 annualized dividend and a dividend yield of 11.39%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is -276.92%.

Analyst Ratings Changes

PSEC has been the topic of a number of research analyst reports. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sheaff Brock Investment Advisors LLC raised its position in Prospect Capital by 7.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 2,010 shares in the last quarter. Strategies Wealth Advisors LLC raised its holdings in Prospect Capital by 7.2% in the 3rd quarter. Strategies Wealth Advisors LLC now owns 33,957 shares of the financial services provider’s stock valued at $182,000 after buying an additional 2,277 shares during the last quarter. Moloney Securities Asset Management LLC increased its position in Prospect Capital by 4.7% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 63,802 shares of the financial services provider’s stock valued at $353,000 after purchasing an additional 2,875 shares during the period. IFG Advisory LLC increased its position in Prospect Capital by 9.0% during the 2nd quarter. IFG Advisory LLC now owns 36,195 shares of the financial services provider’s stock valued at $200,000 after purchasing an additional 3,000 shares during the period. Finally, Captrust Financial Advisors grew its position in shares of Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after buying an additional 3,686 shares during the period. 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.