Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) CEO John F. Barry purchased 623,300 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was acquired at an average cost of $3.19 per share, for a total transaction of $1,988,327.00. Following the completion of the purchase, the chief executive officer now owns 83,266,026 shares of the company's stock, valued at approximately $265,618,622.94. This represents a 0.75% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.
Prospect Capital Trading Down 0.3%
Shares of PSEC traded down $0.01 during mid-day trading on Tuesday, reaching $3.15. The stock had a trading volume of 3,013,963 shares, compared to its average volume of 3,040,091. Prospect Capital Corporation has a 52-week low of $3.10 and a 52-week high of $5.65. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -3.66 and a beta of 0.85. The business's fifty day moving average is $3.45 and its 200 day moving average is $3.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.83.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.05. The business had revenue of $170.72 million during the quarter, compared to analysts' expectations of $174.29 million. Prospect Capital had a negative net margin of 36.07% and a positive return on equity of 12.43%.
Prospect Capital Announces Dividend
The firm also recently announced a dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, May 29th were given a $0.045 dividend. The ex-dividend date was Wednesday, May 28th. This represents a yield of 16.46%. Prospect Capital's dividend payout ratio is currently -62.79%.
Analyst Ratings Changes
A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Prospect Capital from $3.50 to $3.00 and set an "underweight" rating on the stock 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 Stock Analysis on PSEC
Institutional Trading of Prospect Capital
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Atria Wealth Solutions Inc. boosted its stake in Prospect Capital by 158.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider's stock worth $274,000 after buying an additional 38,923 shares during the period. Cutter & CO Brokerage Inc. lifted its holdings in shares of Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider's stock worth $69,000 after acquiring an additional 3,467 shares during the last quarter. Kovack Advisors Inc. boosted its position in shares of Prospect Capital by 1.9% during the 4th quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider's stock worth $625,000 after purchasing an additional 2,732 shares during the period. WMG Financial Advisors LLC increased its holdings in Prospect Capital by 22.3% in the 4th quarter. WMG Financial Advisors LLC now owns 27,950 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 5,100 shares during the last quarter. Finally, Naviter Wealth LLC purchased a new stake in Prospect Capital in the fourth quarter valued at approximately $2,216,000. 9.06% of the stock is owned by institutional investors and hedge funds.
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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