Prospect Capital Co. (NASDAQ:PSEC) CEO Buys $905,960.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 205,900 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of $4.40 per share, with a total value of $905,960.00. Following the completion of the transaction, the chief executive officer now owns 72,612,839 shares of the company’s stock, valued at approximately $319,496,491.60. This represents a 0.28 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $4.66 on Friday. The stock’s 50-day moving average price is $5.12 and its 200 day moving average price is $5.30. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $2.03 billion, a PE ratio of -17.92 and a beta of 1.00. Prospect Capital Co. has a 52-week low of $4.15 and a 52-week high of $6.30.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be paid a dividend of $0.045 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 11.59%. Prospect Capital’s dividend payout ratio (DPR) is -276.92%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, August 30th. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its holdings in shares of Prospect Capital by 175.2% in the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock valued at $871,000 after buying an additional 103,679 shares during the period. Arete Wealth Advisors LLC purchased a new position in Prospect Capital in the third quarter worth $1,199,000. XTX Topco Ltd purchased a new position in Prospect Capital in the third quarter worth $88,000. Paloma Partners Management Co purchased a new stake in shares of Prospect Capital during the 3rd quarter worth $578,000. Finally, Captrust Financial Advisors grew its stake in shares of Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares during the period. 9.06% of the stock is owned by hedge funds and other institutional investors.

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.