Prospect Capital (NASDAQ:PSEC) CEO John Barry Purchases 1,000,000 Shares

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry acquired 1,000,000 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $2.25 per share, for a total transaction of $2,250,000.00. Following the completion of the acquisition, the chief executive officer directly owned 88,146,077 shares of the company’s stock, valued at approximately $198,328,673.25. The trade was a 1.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Prospect Capital Price Performance

NASDAQ PSEC opened at $2.22 on Thursday. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -6.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.79. The stock’s fifty day moving average price is $2.43 and its 200 day moving average price is $2.60. Prospect Capital Corporation has a 1 year low of $2.11 and a 1 year high of $3.50.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Thursday, May 7th. The financial services provider reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $150.07 million during the quarter, compared to analysts’ expectations of $163.23 million. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.

Prospect Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 27th will be issued a dividend of $0.035 per share. The ex-dividend date of this dividend is Thursday, August 27th. This represents a c) dividend on an annualized basis and a dividend yield of 18.9%. Prospect Capital’s payout ratio is -113.51%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Catalyst Financial Partners LLC purchased a new stake in Prospect Capital in the 4th quarter worth approximately $26,000. Bfsg LLC acquired a new stake in shares of Prospect Capital during the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in shares of Prospect Capital during the 3rd quarter valued at approximately $28,000. Ground Swell Capital LLC purchased a new position in shares of Prospect Capital during the 4th quarter valued at approximately $28,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Prospect Capital in the 4th quarter valued at $28,000. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSEC has been the topic of several research reports. Weiss Ratings upgraded shares of Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 29th. Wall Street Zen upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Wells Fargo & Company dropped their price objective on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a report on Tuesday, May 12th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat, Prospect Capital presently has an average rating of “Sell” and a consensus price target of $2.00.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.