Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires 408,911 Shares of Stock

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Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 408,911 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were purchased at an average cost of $6.38 per share, with a total value of $2,608,852.18. Following the completion of the acquisition, the chief executive officer now directly owns 38,938,445 shares in the company, valued at approximately $248,427,279.10. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Prospect Capital stock opened at $6.54 on Thursday. The stock has a market cap of $2.40 billion, a PE ratio of 8.28 and a beta of 0.73. Prospect Capital Co. has a 1 year low of $5.70 and a 1 year high of $7.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.59 and a quick ratio of 0.59.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. The company had revenue of $171.10 million during the quarter, compared to analyst estimates of $173.48 million. Prospect Capital had a return on equity of 9.58% and a net margin of 30.82%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. Equities analysts forecast that Prospect Capital Co. will post 0.86 EPS for the current year.

The business also recently announced a monthly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.72 annualized dividend and a dividend yield of 11.01%. Prospect Capital’s payout ratio is currently 91.14%.

Several analysts have weighed in on PSEC shares. ValuEngine raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. BidaskClub raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Wednesday, February 27th. Zacks Investment Research cut Prospect Capital from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Finally, National Securities reissued a “sell” rating and set a $4.00 price objective on shares of Prospect Capital in a report on Monday, May 13th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock presently has an average rating of “Sell” and a consensus price target of $6.00.

Institutional investors have recently bought and sold shares of the company. HRT Financial LLC grew its position in shares of Prospect Capital by 626.1% during the 4th quarter. HRT Financial LLC now owns 105,942 shares of the financial services provider’s stock worth $668,000 after buying an additional 91,352 shares during the period. Taylor Frigon Capital Management LLC grew its position in shares of Prospect Capital by 1.8% during the 4th quarter. Taylor Frigon Capital Management LLC now owns 125,754 shares of the financial services provider’s stock worth $794,000 after buying an additional 2,216 shares during the period. Two Sigma Securities LLC grew its position in shares of Prospect Capital by 9.6% during the 4th quarter. Two Sigma Securities LLC now owns 29,504 shares of the financial services provider’s stock worth $186,000 after buying an additional 2,585 shares during the period. Massey Quick Simon & CO. LLC acquired a new position in shares of Prospect Capital during the 1st quarter worth about $67,000. Finally, PVG Asset Management Corp acquired a new position in shares of Prospect Capital during the 4th quarter worth about $894,000. Institutional investors own 12.21% of the company’s stock.

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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.

Further Reading: Depreciation

Insider Buying and Selling by Quarter for Prospect Capital (NASDAQ:PSEC)

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