Prospect Capital Corporation (PSEC) CEO Acquires $1,806,870.34 in Stock
Prospect Capital Corporation (NASDAQ:PSEC) CEO John F. Barry acquired 264,937 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were acquired at an average price of $6.82 per share, with a total value of $1,806,870.34. Following the completion of the purchase, the chief executive officer now owns 28,576,578 shares of the company’s stock, valued at $194,892,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Prospect Capital Corporation (PSEC) traded up $0.01 during mid-day trading on Thursday, hitting $6.79. 2,022,900 shares of the stock traded hands, compared to its average volume of 2,838,754. The stock has a market capitalization of $2,443.47, a P/E ratio of 8.37 and a beta of 0.56. 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 fifty-two week low of $5.51 and a fifty-two week high of $9.58.
Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $158.58 million during the quarter, compared to analysts’ expectations of $161.00 million. Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. Prospect Capital’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. research analysts forecast that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a $0.06 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 annualized dividend and a yield of 10.60%. Prospect Capital’s dividend payout ratio is presently 144.00%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. National Securities decreased their target price on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Tuesday, November 14th. ValuEngine upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of Prospect Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Finally, Raymond James Financial upgraded shares of Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.17.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in Prospect Capital in the third quarter valued at $108,000. Jane Street Group LLC acquired a new stake in Prospect Capital in the third quarter valued at $127,000. Regal Investment Advisors LLC raised its holdings in Prospect Capital by 19.3% in the second quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 2,720 shares in the last quarter. Advisory Services Network LLC raised its holdings in Prospect Capital by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Prospect Capital by 8.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 1,507 shares in the last quarter. 15.72% of the stock is currently owned by hedge funds and other institutional investors.
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About Prospect Capital
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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