John F. Barry Acquires 623,300 Shares of Prospect Capital Corporation (NASDAQ:PSEC) Stock

Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) CEO John F. Barry bought 623,300 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was acquired at an average cost of $3.19 per share, with a total value of $1,988,327.00. Following the transaction, the chief executive officer now owns 83,266,026 shares of the company's stock, valued at $265,618,622.94. This represents a 0.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Prospect Capital Stock Performance

Shares of NASDAQ PSEC traded up $0.04 during mid-day trading on Friday, reaching $3.18. 3,462,723 shares of the company were exchanged, compared to its average volume of 3,068,436. The company's 50-day simple moving average is $3.42 and its 200-day simple moving average is $3.93. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.42 billion, a P/E ratio of -3.70 and a beta of 0.85. Prospect Capital Corporation has a twelve month low of $3.10 and a twelve month high of $5.63.

Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its earnings results on Thursday, May 8th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.05. The company 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 Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, May 29th were paid a dividend of $0.045 per share. This represents a dividend yield of 16.46%. The ex-dividend date was Wednesday, May 28th. Prospect Capital's dividend payout ratio is presently -62.79%.

Institutional Trading of Prospect Capital

Hedge funds have recently modified their holdings of the stock. VSM Wealth Advisory LLC acquired a new stake in Prospect Capital in the 1st quarter worth about $25,000. KG&L Capital Management LLC acquired a new stake in Prospect Capital in the 1st quarter worth about $41,000. Nomura Asset Management Co. Ltd. acquired a new stake in Prospect Capital in the 4th quarter worth about $44,000. Envision Financial Planning LLC acquired a new stake in Prospect Capital in the 4th quarter worth about $56,000. Finally, PFG Advisors acquired a new stake in Prospect Capital in the 4th quarter worth about $57,000. Institutional investors and hedge funds own 9.06% of the company's stock.

Wall Street Analyst Weigh In

PSEC has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research note on Saturday, April 12th. Wells Fargo & Company cut their price target on shares of Prospect Capital from $3.50 to $3.00 and set an "underweight" rating for the company in a research note on Monday, May 12th.

About Prospect Capital

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.