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

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 1,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $4.59 per share, for a total transaction of $4,590,000.00. Following the completion of the purchase, the chief executive officer now owns 75,465,285 shares in the company, valued at $346,385,658.15. This trade represents a 1.34 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Prospect Capital Trading Up 3.9 %

Prospect Capital stock opened at $4.83 on Friday. Prospect Capital Co. has a fifty-two week low of $4.15 and a fifty-two week high of $6.30. The firm’s fifty day moving average price is $5.10 and its 200-day moving average price is $5.30. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $196.31 million for the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be paid a $0.045 dividend. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 dividend on an annualized basis and a yield of 11.18%. Prospect Capital’s dividend payout ratio is presently -276.92%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company reduced their price objective on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, August 30th.

Institutional Trading of Prospect Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new position in Prospect Capital in the second quarter worth $27,000. Global Assets Advisory LLC purchased a new position in shares of Prospect Capital in the 3rd quarter worth about $64,000. Family Wealth Partners LLC bought a new position in shares of Prospect Capital during the 3rd quarter valued at about $74,000. Captrust Financial Advisors raised its holdings in shares of Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after buying an additional 3,686 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in shares of Prospect Capital during the 2nd quarter valued at about $80,000. Hedge funds and other 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.