Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry Buys 2,000,000 Shares

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 2,000,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $4.32 per share, for a total transaction of $8,640,000.00. Following the completion of the purchase, the chief executive officer now directly owns 81,501,933 shares of the company’s stock, valued at $352,088,350.56. This trade represents a 2.52 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $4.29 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market cap of $1.91 billion, a PE ratio of -21.45 and a beta of 0.94. The firm has a fifty day moving average price of $4.32 and a two-hundred day moving average price of $4.70. Prospect Capital Co. has a fifty-two week low of $4.09 and a fifty-two week high of $5.72.

Prospect Capital Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be given a dividend of $0.045 per share. This represents a yield of 12.47%. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s dividend payout ratio (DPR) is presently -270.00%.

Hedge Funds Weigh In On Prospect Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. increased its position in shares of Prospect Capital by 6,177.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider’s stock valued at $10,684,000 after purchasing an additional 2,439,426 shares during the period. Thomas J. Herzfeld Advisors Inc. bought a new stake in Prospect Capital in the 4th quarter valued at $7,880,000. Envestnet Asset Management Inc. raised its stake in shares of Prospect Capital by 4,160.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock valued at $4,080,000 after buying an additional 924,428 shares in the last quarter. Naviter Wealth LLC acquired a new stake in shares of Prospect Capital during the 4th quarter valued at about $2,216,000. Finally, Two Sigma Investments LP increased its stake in Prospect Capital by 115.9% in the fourth quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider’s stock valued at $2,952,000 after acquiring an additional 367,634 shares during the period. 9.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Prospect Capital Company Profile

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.