Brian H. Oswald Acquires 35,000 Shares of Prospect Capital Corporation (PSEC) Stock
Prospect Capital Corporation (NASDAQ:PSEC) CFO Brian H. Oswald bought 35,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average cost of $5.75 per share, for a total transaction of $201,250.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Prospect Capital Corporation (PSEC) traded up $0.22 during midday trading on Thursday, reaching $6.38. 9,687,700 shares of the company’s stock traded hands, compared to its average volume of 2,762,924. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital Corporation has a 12 month low of $5.51 and a 12 month high of $9.58. The firm has a market cap of $2,220.03, a PE ratio of 7.60 and a beta of 0.51.
Prospect Capital Corporation (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Prospect Capital Corporation had a return on equity of 8.63% and a net margin of 27.00%. The firm had revenue of $158.58 million for the quarter, compared to analyst estimates of $161.00 million. During the same quarter last year, the firm earned $0.22 EPS. The company’s revenue was down 11.8% on a year-over-year basis. sell-side analysts predict that Prospect Capital Corporation will post 0.72 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a yield of 11.29%. The ex-dividend date is Tuesday, January 30th. Prospect Capital Corporation’s dividend payout ratio (DPR) is presently 144.00%.
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Atria Investments LLC acquired a new position in Prospect Capital Corporation during the 2nd quarter worth approximately $104,000. Trexquant Investment LP acquired a new position in Prospect Capital Corporation during the 3rd quarter worth approximately $108,000. Regal Investment Advisors LLC grew its holdings in Prospect Capital Corporation by 19.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 2,720 shares in the last quarter. Nwam LLC grew its holdings in Prospect Capital Corporation by 19.1% during the 2nd quarter. Nwam LLC now owns 16,825 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new position in Prospect Capital Corporation during the 2nd quarter worth approximately $142,000. Institutional investors own 15.07% of the company’s stock.
Several brokerages recently weighed in on PSEC. TheStreet downgraded shares of Prospect Capital Corporation from a “b-” rating to a “c+” rating in a research note on Wednesday, September 27th. Zacks Investment Research downgraded shares of Prospect Capital Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. BMO Capital Markets cut their target price on shares of Prospect Capital Corporation from $7.00 to $6.00 and set a “market perform” rating on the stock in a research note on Friday, November 10th. National Securities cut their target price on shares of Prospect Capital Corporation from $5.00 to $4.00 and set a “sell” rating on the stock in a research note on Tuesday. Finally, Raymond James Financial, Inc. raised shares of Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.17.
About Prospect Capital Corporation
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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