Prospect Capital (NASDAQ:PSEC) Director Eugene Stark Buys 15,000 Shares of Stock

Prospect Capital Corporation (NASDAQ:PSEC) Director Eugene Stark bought 15,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average price of $1.34 per share, for a total transaction of $20,100.00. Following the completion of the acquisition, the director owned 75,000 shares of the company’s stock, valued at $100,500. The trade was a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Prospect Capital Stock Performance

Shares of PSEC traded up $0.10 during midday trading on Monday, reaching $1.51. The stock had a trading volume of 15,882,028 shares, compared to its average volume of 5,209,770. The firm has a 50 day simple moving average of $1.89 and a 200-day simple moving average of $2.34. Prospect Capital Corporation has a one year low of $1.29 and a one year high of $3.12. The firm has a market cap of $841.05 million, a PE ratio of -10.07 and a beta of 0.84. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.53.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.05. The company had revenue of $151.74 million for the quarter, compared to analyst estimates of $163.14 million. Prospect Capital had a net margin of 3.80% and a return on equity of 13.28%. As a group, sell-side analysts anticipate that Prospect Capital Corporation will post 0.38 EPS for the current year.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, February 17th. Investors of record on Wednesday, January 27th will be issued a dividend of $0.0350 per share. The ex-dividend date of this dividend is Wednesday, January 27th. This represents a $0.42 dividend on an annualized basis and a dividend yield of 27.8%. Prospect Capital’s payout ratio is presently -280.00%.

Hedge Funds Weigh In On Prospect Capital

A number of hedge funds have recently bought and sold shares of the business. Integrity Advisory Solutions LLC bought a new position in shares of Prospect Capital during the third quarter worth approximately $29,000. WINTON GROUP Ltd acquired a new stake in shares of Prospect Capital in the 2nd quarter valued at $35,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Prospect Capital by 55.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 6,056 shares in the last quarter. ARS Wealth Advisors Group LLC acquired a new stake in shares of Prospect Capital in the 3rd quarter valued at $36,000. Finally, GTS Securities LLC bought a new position in shares of Prospect Capital in the 2nd quarter valued at $40,000. 9.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PSEC. Weiss Ratings cut Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. Wells Fargo & Company dropped their price objective on shares of Prospect Capital from $2.00 to $1.50 and set an “underweight” rating on the stock in a research report on Friday. Wall Street Zen cut shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Zacks Research raised shares of Prospect Capital to a “hold” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and a consensus target price of $1.50.

Prospect Capital Company Profile

Prospect Capital Corporation (NASDAQ:PSEC) is a business development company that provides financing and investment capital to middle-market companies. The company primarily invests in privately held businesses through first-lien and second-lien loans, mezzanine debt, and other debt securities, while also making equity and equity-related investments in selected companies.

Prospect Capital invests across a range of industries and has additional exposure to areas such as real estate, structured credit, and financial services.