Prospect Capital Co. (NASDAQ:PSEC) CEO Buys $8,640,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 2,000,000 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average price of $4.32 per share, with a total value of $8,640,000.00. Following the purchase, the chief executive officer now owns 81,501,933 shares in the company, valued at approximately $352,088,350.56. This represents a 2.52 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Prospect Capital Stock Up 2.4 %

Shares of NASDAQ:PSEC opened at $4.29 on Friday. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $5.72. The company’s 50-day moving average price is $4.32 and its two-hundred day moving average price is $4.71. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.91 billion, a P/E ratio of -21.45 and a beta of 0.94.

Prospect Capital Announces Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.045 per share. This represents a yield of 12.47%. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s dividend payout ratio is currently -270.00%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, December 6th.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Palogic Value Management L.P. boosted its stake in shares of Prospect Capital by 50.8% in the 4th quarter. Palogic Value Management L.P. now owns 351,294 shares of the financial services provider’s stock valued at $1,514,000 after purchasing an additional 118,400 shares during the last quarter. Comprehensive Money Management Services LLC bought a new position in shares of Prospect Capital in the 4th quarter valued at about $72,000. Ameriflex Group Inc. bought a new position in shares of Prospect Capital in the 4th quarter valued at about $62,000. Alpine Global Management LLC bought a new position in shares of Prospect Capital in the 4th quarter valued at about $346,000. Finally, Focus Partners Advisor Solutions LLC boosted its stake in shares of Prospect Capital by 21.8% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 25,229 shares of the financial services provider’s stock valued at $109,000 after purchasing an additional 4,524 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.