Prospect Capital (NASDAQ:PSEC) CEO Purchases 1,067,648 Shares of Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry bought 1,067,648 shares of the business’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $2.27 per share, with a total value of $2,423,560.96. Following the purchase, the chief executive officer owned 89,213,725 shares of the company’s stock, valued at $202,515,155.75. This represents a 1.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Prospect Capital Price Performance

NASDAQ PSEC traded up $0.05 on Thursday, reaching $2.27. 6,684,920 shares of the company’s stock traded hands, compared to its average volume of 5,047,400. The stock has a market cap of $1.14 billion, a PE ratio of -6.13 and a beta of 0.78. Prospect Capital Corporation has a 12 month low of $2.11 and a 12 month high of $3.50. The stock has a 50-day simple moving average of $2.43 and a 200 day simple moving average of $2.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.79.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Thursday, May 7th. The financial services provider reported $0.16 EPS for the quarter, beating the consensus estimate of $0.11 by $0.05. The company had revenue of $150.07 million for the quarter, compared to analyst estimates of $163.23 million. Prospect Capital had a negative net margin of 10.42% and a positive return on equity of 12.03%.

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 27th will be paid a dividend of $0.035 per share. This represents a c) dividend on an annualized basis and a dividend yield of 18.5%. The ex-dividend date of this dividend is Thursday, August 27th. Prospect Capital’s dividend payout ratio (DPR) is -113.51%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PSEC shares. Weiss Ratings upgraded Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Wall Street Zen raised Prospect Capital from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Wells Fargo & Company lowered their price objective on Prospect Capital from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, Prospect Capital presently has an average rating of “Sell” and an average price target of $2.00.

Hedge Funds Weigh In On Prospect Capital

A number of hedge funds have recently modified their holdings of PSEC. Catalyst Financial Partners LLC bought a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $26,000. Navalign LLC purchased a new position in Prospect Capital during the third quarter valued at $28,000. Bfsg LLC purchased a new position in Prospect Capital during the fourth quarter valued at $27,000. Ground Swell Capital LLC bought a new stake in shares of Prospect Capital during the 4th quarter valued at $28,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Prospect Capital during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 9.06% of the company’s stock.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.