Prospect Capital (NASDAQ:PSEC) Stock: Insider John Barry Acquires 1,410,633 Shares

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry bought 1,410,633 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were acquired at an average price of $1.51 per share, with a total value of $2,130,055.83. Following the completion of the acquisition, the chief executive officer directly owned 95,808,672 shares in the company, valued at $144,671,094.72. This represents a 1.49% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Prospect Capital Stock Performance

Shares of PSEC opened at $1.41 on Friday. Prospect Capital Corporation has a 12-month low of $1.29 and a 12-month high of $3.12. The stock has a market cap of $782.57 million, a P/E ratio of -9.37 and a beta of 0.84. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.53. The company has a 50-day moving average of $1.83 and a two-hundred day moving average of $2.31.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. Prospect Capital had a net margin of 3.80% and a return on equity of 13.28%. The business had revenue of $151.74 million for the quarter, compared to analyst estimates of $163.14 million. As a group, research analysts predict that Prospect Capital Corporation will post 0.38 EPS for the current fiscal year.

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 17th. Investors of record on Wednesday, January 27th will be paid a $0.0350 dividend. The ex-dividend date of this dividend is Wednesday, January 27th. This represents a $0.42 dividend on an annualized basis and a yield of 29.9%. Prospect Capital’s dividend payout ratio is presently -280.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen downgraded Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Wells Fargo & Company reduced their price objective on Prospect Capital from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Friday, November 6th. Zacks Research upgraded Prospect Capital to a “hold” rating in a research report on Monday, October 5th. Finally, Weiss Ratings lowered Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. One investment 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, the stock currently has an average rating of “Sell” and an average price target of $1.50.

Hedge Funds Weigh In On Prospect Capital

A number of institutional investors have recently modified their holdings of PSEC. Integrity Advisory Solutions LLC purchased a new position in shares of Prospect Capital during the third quarter valued at approximately $29,000. WINTON GROUP Ltd purchased a new stake in Prospect Capital in the 2nd quarter worth approximately $35,000. ARS Wealth Advisors Group LLC purchased a new stake in Prospect Capital in the 3rd quarter worth approximately $36,000. Samalin Investment Counsel LLC purchased a new stake in Prospect Capital in the 3rd quarter worth approximately $38,000. Finally, Caitong International Asset Management Co. Ltd raised its holdings in 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 valued at $39,000 after acquiring an additional 6,056 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Company Profile

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. and is headquartered in New York City.