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 that occurred on Thursday, March 13th. The shares were purchased at an average cost of $4.20 per share, for a total transaction of $1,008,000.00. Following the completion of the transaction, the chief executive officer now directly owns 81,981,933 shares in the company, valued at $344,324,118.60. The trade was a 0.29 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Prospect Capital Price Performance

PSEC opened at $4.31 on Wednesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $1.92 billion, a P/E ratio of -21.55 and a beta of 0.94. The company’s 50-day simple moving average is $4.32 and its two-hundred day simple moving average is $4.69. Prospect Capital Co. has a 52-week low of $4.09 and a 52-week high of $5.72.

Prospect Capital Announces Dividend

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

Hedge Funds Weigh In On Prospect Capital

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Navis Wealth Advisors LLC bought a new position in Prospect Capital during the 4th quarter valued at about $263,000. XTX Topco Ltd bought a new position in shares of Prospect Capital in the 3rd quarter worth approximately $88,000. Ridgeline Wealth LLC bought a new position in shares of Prospect Capital in the 4th quarter worth approximately $407,000. Strategic Financial Concepts LLC lifted its stake in shares of Prospect Capital by 131.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 49,134 shares of the financial services provider’s stock worth $212,000 after purchasing an additional 27,935 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its stake in shares of Prospect Capital by 158.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 63,477 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 38,923 shares during the period. Institutional investors own 9.06% of the company’s stock.

Analysts Set New Price Targets

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

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.