Prospect Capital (NASDAQ:PSEC) Sets New 12-Month Low – Here’s What Happened

Prospect Capital Co. (NASDAQ:PSEC) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $4.09 and last traded at $4.22, with a volume of 703552 shares trading hands. The stock had previously closed at $4.17.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Prospect Capital Trading Up 1.4 %

The company’s 50 day moving average is $4.32 and its 200 day moving average is $4.82. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48.

Prospect Capital Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, February 26th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s dividend payout ratio (DPR) is currently -207.69%.

Insider Activity

In other news, CEO John F. Barry bought 837,273 shares of Prospect Capital stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $4.47 per share, for a total transaction of $3,742,610.31. Following the purchase, the chief executive officer now owns 73,450,112 shares of the company’s stock, valued at approximately $328,322,000.64. The trade was a 1.15 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO M Grier Eliasek purchased 210,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the purchase, the chief operating officer now owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. This trade represents a 10.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 5,273,173 shares of company stock valued at $23,701,420. Company insiders own 27.10% of the company’s stock.

Institutional Trading of Prospect Capital

Institutional investors have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. acquired a new position in Prospect Capital during the fourth quarter worth about $44,000. Centurion Wealth Management LLC purchased a new position in Prospect Capital in the 4th quarter valued at approximately $46,000. MWA Asset Management purchased a new stake in Prospect Capital during the third quarter worth $53,000. PFG Advisors acquired a new position in shares of Prospect Capital during the 4th quarter worth $57,000. Finally, Independent Advisor Alliance purchased a new stake in shares of Prospect Capital in the 4th quarter worth about $62,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

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.