Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Purchases 240,000 Shares of Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 240,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $4.30 per share, with a total value of $1,032,000.00. Following the completion of the transaction, the chief executive officer now owns 82,461,933 shares of the company’s stock, valued at approximately $354,586,311.90. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Prospect Capital Stock Down 1.2 %

Shares of PSEC opened at $4.26 on Thursday. The firm has a market cap of $1.90 billion, a P/E ratio of -21.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. Prospect Capital Co. has a 52 week low of $4.09 and a 52 week high of $5.72. The firm’s 50-day simple moving average is $4.32 and its 200 day simple moving average is $4.69.

Prospect Capital Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 27th will be given a $0.045 dividend. This represents a dividend yield of 12.47%. The ex-dividend date is Wednesday, February 26th. Prospect Capital’s payout ratio is -270.00%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Prospect Capital

A number of large investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. grew its holdings in Prospect Capital by 6,177.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider’s stock valued at $10,684,000 after buying an additional 2,439,426 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in shares of Prospect Capital in the fourth quarter valued at about $7,880,000. Envestnet Asset Management Inc. grew its stake in shares of Prospect Capital by 4,160.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock valued at $4,080,000 after acquiring an additional 924,428 shares in the last quarter. Naviter Wealth LLC bought a new position in Prospect Capital during the fourth quarter worth about $2,216,000. Finally, Two Sigma Investments LP raised its stake in Prospect Capital by 115.9% in the 4th quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider’s stock worth $2,952,000 after purchasing an additional 367,634 shares in 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.