Prospect Capital (NASDAQ:PSEC) Director Eugene Stark Acquires 15,000 Shares of Company Stock

Prospect Capital Corporation (NASDAQ:PSEC) Director Eugene Stark acquired 15,000 shares of the business’s stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $1.34 per share, for a total transaction of $20,100.00. Following the completion of the transaction, the director owned 75,000 shares in the company, valued at approximately $100,500. This represents a 25.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Prospect Capital Trading Up 7.1%

PSEC opened at $1.51 on Tuesday. The stock has a market cap of $806.07 million, a PE ratio of -10.07 and a beta of 0.84. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.64. The business has a 50 day moving average of $1.88 and a 200-day moving average of $2.33. Prospect Capital Corporation has a 52 week low of $1.29 and a 52 week high of $3.12.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $151.74 million for the quarter, compared to analysts’ expectations of $163.14 million. Prospect Capital had a return on equity of 13.19% and a net margin of 3.80%. Equities research analysts predict that Prospect Capital Corporation will post 0.38 earnings per share for the current fiscal year.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 17th. Stockholders of record on Wednesday, January 27th will be issued a dividend of $0.0350 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 27.8%. The ex-dividend date is Wednesday, January 27th. Prospect Capital’s payout ratio is -280.00%.

Institutional Investors Weigh In On Prospect Capital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Integrity Advisory Solutions LLC bought a new position in Prospect Capital in the 3rd quarter valued at approximately $29,000. WINTON GROUP Ltd purchased a new stake in Prospect Capital during the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of Prospect Capital by 55.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 6,056 shares in the last quarter. ARS Wealth Advisors Group LLC bought a new stake in shares of Prospect Capital in the 3rd quarter worth $36,000. Finally, GTS Securities LLC bought a new stake in shares of Prospect Capital in the 2nd quarter worth $40,000. Institutional investors own 9.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on PSEC shares. Wells Fargo & Company decreased their price target on shares of Prospect Capital from $2.00 to $1.50 and set an “underweight” rating for the company in a research note on Friday. Wall Street Zen lowered shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research raised shares of Prospect Capital to a “hold” rating in a research note on Monday, October 5th. Finally, Weiss Ratings cut shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 26th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Prospect Capital presently has an average rating of “Sell” and an average target price of $1.50.

About Prospect Capital

Prospect Capital Corporation is a business development company that provides financing to middle-market businesses. Its investments include senior and subordinated debt, structured finance, and equity securities.

The company works with businesses seeking capital for purposes such as growth, acquisitions, recapitalizations, and refinancing. Its portfolio spans a range of industries, with investments primarily in companies in the United States.

Founded in 2004, Prospect Capital is externally managed by Prospect Capital Management L.P.