Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 22,740,000 shares, an increase of 28.0% from the March 15th total of 17,760,000 shares. Based on an average trading volume of 2,840,000 shares, the days-to-cover ratio is currently 8.0 days. Approximately 6.3% of the company's shares are sold short.
Insider Buying and Selling
In other Prospect Capital news, Director William Gremp bought 19,100 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were purchased at an average price of $4.29 per share, for a total transaction of $81,939.00. Following the purchase, the director now directly owns 75,153 shares of the company's stock, valued at approximately $322,406.37. This represents a 34.07 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John F. Barry acquired 24,000 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was purchased at an average price of $4.24 per share, for a total transaction of $101,760.00. Following the purchase, the chief executive officer now owns 82,594,540 shares of the company's stock, valued at $350,200,849.60. The trade was a 0.03 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,548,000 shares of company stock valued at $10,970,715 over the last ninety days. 28.25% of the stock is owned by company insiders.
Institutional Trading of Prospect Capital
A number of institutional investors have recently made changes to their positions in PSEC. Balyasny Asset Management L.P. raised its holdings in Prospect Capital by 6,177.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider's stock worth $10,684,000 after purchasing an additional 2,439,426 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new position in shares of Prospect Capital during the fourth quarter valued at approximately $7,880,000. Envestnet Asset Management Inc. lifted its holdings in shares of Prospect Capital by 4,160.3% during the 4th 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 period. BI Asset Management Fondsmaeglerselskab A S boosted its position in Prospect Capital by 49.4% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 707,827 shares of the financial services provider's stock worth $3,051,000 after purchasing an additional 233,948 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in Prospect Capital by 115.9% during the fourth quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider's stock valued at $2,952,000 after buying an additional 367,634 shares during the period. Hedge funds and other institutional investors own 9.06% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th.
Get Our Latest Stock Report on Prospect Capital
Prospect Capital Price Performance
PSEC traded up $0.04 during trading on Thursday, reaching $3.67. The stock had a trading volume of 1,815,191 shares, compared to its average volume of 2,776,451. The stock has a market cap of $1.64 billion, a PE ratio of -18.35 and a beta of 0.85. The business has a 50-day moving average of $4.04 and a 200-day moving average of $4.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. Prospect Capital has a one year low of $3.39 and a one year high of $5.72.
Prospect Capital Announces Dividend
The firm also recently announced a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were issued a dividend of $0.045 per share. This represents a dividend yield of 12.47%. The ex-dividend date of this dividend was Wednesday, February 26th. Prospect Capital's dividend payout ratio is currently -270.00%.
About Prospect Capital
(
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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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