Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry Acquires 1,000,000 Shares

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry bought 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $4.78 per share, for a total transaction of $4,780,000.00. Following the completion of the acquisition, the chief executive officer now owns 77,465,298 shares in the company, valued at approximately $370,284,124.44. This trade represents a 1.31 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Prospect Capital Stock Performance

Shares of PSEC opened at $4.74 on Wednesday. Prospect Capital Co. has a one year low of $4.15 and a one year high of $6.30. The stock has a 50-day moving average price of $5.09 and a 200 day moving average price of $5.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. This represents a $0.54 annualized dividend and a yield of 11.39%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is currently -276.92%.

Wall Street Analyst Weigh In

PSEC has been the topic of a number of analyst reports. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company dropped their price target on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Friday, August 30th.

Institutional Investors Weigh In On Prospect Capital

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rothschild Investment LLC acquired a new position in Prospect Capital in the second quarter worth about $27,000. MWA Asset Management acquired a new stake in Prospect Capital during the third quarter valued at approximately $53,000. Global Assets Advisory LLC bought a new position in Prospect Capital during the 3rd quarter worth approximately $64,000. Family Wealth Partners LLC acquired a new position in shares of Prospect Capital in the 3rd quarter worth approximately $74,000. Finally, Captrust Financial Advisors increased its holdings in shares of Prospect Capital by 34.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,686 shares during the last quarter. Institutional investors own 9.06% of the company’s stock.

About Prospect Capital

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.