Prospect Capital (NASDAQ:PSEC) CEO Acquires $2,423,560.96 in Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry acquired 1,067,648 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $2.27 per share, for a total transaction of $2,423,560.96. Following the completion of the transaction, the chief executive officer owned 89,213,725 shares in the company, valued at approximately $202,515,155.75. This represents a 1.21% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $2.31 on Friday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of -6.24 and a beta of 0.78. Prospect Capital Corporation has a 1-year low of $2.11 and a 1-year high of $3.50. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $2.41 and its 200-day simple moving average is $2.60.

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

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 27th will be paid 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 18.2%. Prospect Capital’s dividend payout ratio (DPR) is -113.51%.

Institutional Investors Weigh In On Prospect Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its position in shares of Prospect Capital by 0.5% in the second quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock valued at $2,685,000 after purchasing an additional 3,880 shares during the period. Private Advisor Group LLC boosted its holdings in shares of Prospect Capital by 0.4% during the 1st quarter. Private Advisor Group LLC now owns 1,711,638 shares of the financial services provider’s stock worth $4,467,000 after buying an additional 6,262 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Prospect Capital by 1.3% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 520,592 shares of the financial services provider’s stock worth $1,655,000 after acquiring an additional 6,516 shares during the period. BNP Paribas Financial Markets raised its holdings in Prospect Capital by 1.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 504,342 shares of the financial services provider’s stock worth $1,387,000 after acquiring an additional 9,008 shares during the period. Finally, Wealthfront Advisers LLC lifted its position in Prospect Capital by 24.8% during the 4th quarter. Wealthfront Advisers LLC now owns 49,092 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 9,740 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSEC has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings upgraded Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, May 29th. Finally, Wall Street Zen raised Prospect Capital from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell” and an average price target of $2.00.

About Prospect Capital

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.