John Barry Buys 232,000 Shares of Prospect Capital (NASDAQ:PSEC) Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry acquired 232,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were acquired at an average cost of $2.32 per share, with a total value of $538,240.00. Following the transaction, the chief executive officer owned 86,689,351 shares in the company, valued at approximately $201,119,294.32. The trade was a 0.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $2.37 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Prospect Capital Corporation has a fifty-two week low of $2.11 and a fifty-two week high of $3.50. The firm has a 50-day simple moving average of $2.55 and a 200 day simple moving average of $2.66. The company has a market cap of $1.19 billion, a PE ratio of -6.41 and a beta of 0.82.

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

Prospect Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 27th will be given a $0.035 dividend. The ex-dividend date is Thursday, August 27th. This represents a c) annualized dividend and a yield of 17.7%. Prospect Capital’s dividend payout ratio is -113.51%.

Wall Street Analyst Weigh In

PSEC has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Prospect Capital in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Wells Fargo & Company decreased their target price on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating for the company in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $2.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada grew its position in Prospect Capital by 42.6% in the 1st quarter. Royal Bank of Canada now owns 81,016 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 24,188 shares during the last quarter. Cetera Investment Advisers grew its position in Prospect Capital by 23.9% in the 1st quarter. Cetera Investment Advisers now owns 316,704 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 61,182 shares during the last quarter. Spartan Wealth Advisory Services LLC acquired a new stake in shares of Prospect Capital in the 1st quarter worth approximately $50,000. Modera Wealth Management LLC acquired a new stake in shares of Prospect Capital in the 1st quarter worth approximately $69,000. Finally, Independent Financial Group LLC acquired a new stake in shares of Prospect Capital in the 1st quarter worth approximately $8,644,000. Institutional investors own 9.06% of the company’s stock.

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.