John Barry Acquires 1,217,105 Shares of Prospect Capital (NASDAQ:PSEC) Stock

by · The Markets Daily

Prospect Capital Corporation (NASDAQ:PSEC – Get Free Report) CEO John Barry acquired 1,217,105 shares of Prospect Capital stock in a transaction dated Friday, September 4th. The shares were bought at an average price of $2.24 per share, for a total transaction of $2,726,315.20. Following the transaction, the chief executive officer owned 90,479,988 shares of the company’s stock, valued at approximately $202,675,173.12. The trade was a 1.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $2.18 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average price of $2.24 and a 200 day moving average price of $2.41. Prospect Capital Corporation has a fifty-two week low of $2.11 and a fifty-two week high of $3.13. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 43.60 and a beta of 0.80.

Prospect Capital (NASDAQ:PSEC – Get Free Report) last posted its earnings results on Thursday, August 20th. The financial services provider reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.04. The company had revenue of $155.76 million during the quarter, compared to analysts’ expectations of $149.80 million. Prospect Capital had a net margin of 19.33% and a return on equity of 12.15%.

Prospect Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, November 18th. Stockholders of record on Wednesday, October 28th will be issued a $0.035 dividend. This represents a c) annualized dividend and a dividend yield of 19.3%. The ex-dividend date of this dividend is Wednesday, October 28th. Prospect Capital’s payout ratio is 840.00%.

Institutional Investors Weigh In On Prospect Capital

Institutional investors have recently modified their holdings of the stock. Private Management Group Inc. grew its holdings in Prospect Capital by 51.7% during the 2nd quarter. Private Management Group Inc. now owns 20,534,804 shares of the financial services provider’s stock valued at $47,435,000 after purchasing an additional 6,999,513 shares during the last quarter. Millennium Management LLC lifted its stake in Prospect Capital by 356.3% in the third quarter. Millennium Management LLC now owns 6,231,987 shares of the financial services provider’s stock worth $17,138,000 after purchasing an additional 4,866,312 shares during the last quarter. Legal & General Group Plc bought a new position in shares of Prospect Capital during the second quarter valued at approximately $9,336,000. Independent Financial Group LLC bought a new position in shares of Prospect Capital during the first quarter valued at approximately $8,644,000. Finally, Marshall Wace LLP raised its holdings in shares of Prospect Capital by 70.7% in the third quarter. Marshall Wace LLP now owns 6,668,376 shares of the financial services provider’s stock worth $18,338,000 after buying an additional 2,761,351 shares during the period. 9.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSEC has been the subject of a number of research reports. Weiss Ratings lowered Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 26th. Wall Street Zen cut Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Prospect Capital presently has a consensus rating of “Sell” and an average target price of $2.00.

View Our Latest Research Report on Prospect Capital

Prospect Capital Company Profile

(Get Free Report)

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.

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