Prospect Capital Co. (NASDAQ:PSEC) CEO Purchases $8,580,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 2,000,000 shares of Prospect Capital stock in a transaction that occurred on Tuesday, December 24th. The shares were purchased at an average cost of $4.29 per share, with a total value of $8,580,000.00. Following the purchase, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at $340,958,685.21. This represents a 2.58 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Prospect Capital Stock Performance

NASDAQ:PSEC opened at $4.26 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $4.69 and its two-hundred day moving average price is $5.11. The stock has a market cap of $1.86 billion, a P/E ratio of -16.38 and a beta of 0.97. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $6.26.

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

Prospect Capital Dividend Announcement

The company 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 dividend of $0.045 per share. This represents a $0.54 annualized dividend and a yield of 12.68%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is currently -207.69%.

Hedge Funds Weigh In On Prospect Capital

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Prospect Capital by 23.3% in the third quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after buying an additional 1,690,290 shares in the last quarter. Y.D. More Investments Ltd boosted its stake in shares of Prospect Capital by 303.6% in the 2nd quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock valued at $29,064,000 after purchasing an additional 3,808,560 shares in the last quarter. XML Financial LLC grew its holdings in shares of Prospect Capital by 8.1% during the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after purchasing an additional 153,180 shares during the last quarter. International Assets Investment Management LLC raised its position in Prospect Capital by 344.0% in the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock worth $4,992,000 after purchasing an additional 722,925 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in Prospect Capital by 2.6% in the third quarter. D.A. Davidson & CO. now owns 299,078 shares of the financial services provider’s stock worth $1,600,000 after purchasing an additional 7,641 shares during the last quarter. 9.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Prospect Capital Company Profile

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.