Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) CEO John F. Barry bought 319,000 shares of Prospect Capital stock in a transaction on Monday, June 23rd. The shares were acquired at an average cost of $3.16 per share, with a total value of $1,008,040.00. Following the completion of the acquisition, the chief executive officer now owns 83,585,026 shares of the company's stock, valued at $264,128,682.16. The trade was a 0.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Prospect Capital Stock Performance
NASDAQ PSEC traded up $0.01 on Wednesday, reaching $3.16. 4,002,205 shares of the stock were exchanged, compared to its average volume of 3,049,543. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Prospect Capital Corporation has a one year low of $3.10 and a one year high of $5.65. The firm has a market capitalization of $1.41 billion, a PE ratio of -3.67 and a beta of 0.85. The company's 50-day simple moving average is $3.44 and its two-hundred day simple moving average is $3.95.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The financial services provider reported $0.19 EPS for the quarter, beating the consensus estimate of $0.14 by $0.05. Prospect Capital had a negative net margin of 36.07% and a positive return on equity of 12.43%. The firm had revenue of $170.72 million for the quarter, compared to the consensus estimate of $174.29 million.
Prospect Capital Announces Dividend
The firm also recently declared a dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were issued a dividend of $0.045 per share. The ex-dividend date was Wednesday, May 28th. This represents a yield of 16.46%. Prospect Capital's dividend payout ratio is presently -62.79%.
Analyst Ratings Changes
Several equities research analysts have recently commented on PSEC shares. Wells Fargo & Company reduced their price objective on Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a research note on Monday, May 12th. Wall Street Zen upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research report on Saturday, April 12th.
View Our Latest Report on Prospect Capital
Hedge Funds Weigh In On Prospect Capital
Large investors have recently made changes to their positions in the business. Balyasny Asset Management L.P. raised its stake in Prospect Capital by 6,177.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider's stock valued at $10,684,000 after purchasing an additional 2,439,426 shares during the period. Thomas J. Herzfeld Advisors Inc. purchased a new stake in Prospect Capital during the 4th quarter valued at approximately $7,880,000. Envestnet Asset Management Inc. raised its position in shares of Prospect Capital by 4,160.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider's stock valued at $4,080,000 after buying an additional 924,428 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Prospect Capital by 3,430.6% in the first quarter. PFG Investments LLC now owns 624,419 shares of the financial services provider's stock worth $2,560,000 after buying an additional 606,733 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Prospect Capital by 176.1% during the first quarter. Trexquant Investment LP now owns 915,452 shares of the financial services provider's stock worth $3,753,000 after acquiring an additional 583,844 shares during the last quarter. 9.06% of the stock is currently owned by hedge funds and other institutional investors.
Prospect Capital Company Profile
(
Get Free Report)
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.
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