Prospect Capital Co. (NASDAQ:PSEC) insider John F. Barry bought 84,100 shares of the business’s stock in a transaction that occurred on Thursday, March 15th. The shares were acquired at an average price of $6.49 per share, for a total transaction of $545,809.00. Following the completion of the transaction, the insider now owns 34,284,671 shares in the company, valued at $222,507,514.79. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Prospect Capital stock opened at $6.51 on Thursday. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.73. Prospect Capital Co. has a fifty-two week low of $5.51 and a fifty-two week high of $9.45. The stock has a market cap of $2,349.93, a P/E ratio of 8.44 and a beta of 0.42.
Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.02. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. The firm had revenue of $162.40 million during the quarter, compared to analyst estimates of $153.94 million. During the same quarter last year, the business earned $0.28 EPS. The company’s revenue was down 11.5% compared to the same quarter last year. sell-side analysts forecast that Prospect Capital Co. will post 0.74 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Friday, March 30th will be issued a dividend of $0.06 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.72 annualized dividend and a yield of 11.06%. Prospect Capital’s payout ratio is 128.57%.
Several equities research analysts recently commented on the stock. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. BidaskClub upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. BMO Capital Markets reiterated a “hold” rating and set a $7.00 target price on shares of Prospect Capital in a research report on Monday, January 8th. Zacks Investment Research downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a research report on Saturday, January 20th. Finally, National Securities reiterated a “sell” rating and set a $4.00 target price on shares of Prospect Capital in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.81.
Institutional investors have recently added to or reduced their stakes in the business. Sumitomo Mitsui Asset Management Company LTD bought a new position in Prospect Capital during the 4th quarter worth approximately $2,544,000. Virtu Financial LLC raised its holdings in Prospect Capital by 302.9% during the 4th quarter. Virtu Financial LLC now owns 294,330 shares of the financial services provider’s stock worth $1,984,000 after purchasing an additional 221,274 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in Prospect Capital by 266.2% during the 4th quarter. Eqis Capital Management Inc. now owns 438,826 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 319,001 shares during the last quarter. GSA Capital Partners LLP raised its holdings in Prospect Capital by 277.0% during the 3rd quarter. GSA Capital Partners LLP now owns 149,438 shares of the financial services provider’s stock worth $1,004,000 after purchasing an additional 109,803 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in Prospect Capital by 5.4% during the 3rd quarter. California Public Employees Retirement System now owns 808,100 shares of the financial services provider’s stock worth $5,430,000 after purchasing an additional 41,100 shares during the last quarter. Hedge funds and other institutional investors own 14.17% of the company’s stock.
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Prospect Capital Company Profile
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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