Brian H. Oswald Buys 4,000 Shares of Prospect Capital Corp. (PSEC) Stock
Prospect Capital Corp. (NASDAQ:PSEC) CFO Brian H. Oswald purchased 4,000 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was bought at an average cost of $7.85 per share, for a total transaction of $31,400.00. Following the acquisition, the chief financial officer now directly owns 480,000 shares in the company, valued at $3,768,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 8.06 on Tuesday. Prospect Capital Corp. has a 52 week low of $5.21 and a 52 week high of $8.68. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 27.79 and a beta of 0.62. The stock has a 50 day moving average of $8.32 and a 200-day moving average of $7.76.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its earnings results on Monday, August 29th. The company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.01. The company had revenue of $193.04 million for the quarter. Prospect Capital Corp. had a return on equity of 10.47% and a net margin of 13.05%. The firm’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS. On average, analysts anticipate that Prospect Capital Corp. will post $0.99 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a $0.0833 dividend. This represents a $1.00 annualized dividend and a yield of 12.41%. The ex-dividend date is Wednesday, September 28th. Prospect Capital Corp.’s dividend payout ratio (DPR) is 344.83%.
Several equities analysts recently commented on the stock. Vetr raised shares of Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $7.97 target price on the stock in a report on Monday, June 13th. Barclays PLC reaffirmed an “equal weight” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Zacks Investment Research raised shares of Prospect Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. BMO Capital Markets reaffirmed a “market perform” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Thursday, September 1st. Finally, FBR & Co reaffirmed an “outperform” rating and set a $10.00 target price (up previously from $9.00) on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.55.
Hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC purchased a new stake in Prospect Capital Corp. during the second quarter valued at $102,000. Paragon Capital Management Ltd raised its stake in Prospect Capital Corp. by 25.9% in the second quarter. Paragon Capital Management Ltd now owns 13,410 shares of the company’s stock worth $105,000 after buying an additional 2,759 shares during the last quarter. Blair William & Co. IL raised its stake in Prospect Capital Corp. by 28.7% in the second quarter. Blair William & Co. IL now owns 13,450 shares of the company’s stock worth $105,000 after buying an additional 3,000 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Prospect Capital Corp. by 25.3% in the second quarter. Stratos Wealth Partners LTD. now owns 14,457 shares of the company’s stock worth $113,000 after buying an additional 2,919 shares during the last quarter. Finally, Partnervest Advisory Services LLC raised its stake in Prospect Capital Corp. by 2.7% in the second quarter. Partnervest Advisory Services LLC now owns 14,710 shares of the company’s stock worth $115,000 after buying an additional 383 shares during the last quarter. 11.00% of the stock is currently owned by institutional investors.
Prospect Capital Corp. Company Profile
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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