John F. Barry Purchases 1,000,000 Shares of Prospect Capital Co. (NASDAQ:PSEC) Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry acquired 1,000,000 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were bought at an average cost of $4.78 per share, with a total value of $4,780,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 77,465,298 shares in the company, valued at $370,284,124.44. The trade was a 1.31 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Prospect Capital Price Performance

Shares of Prospect Capital stock opened at $4.75 on Thursday. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of -18.27 and a beta of 1.00. The company has a fifty day moving average of $5.08 and a 200-day moving average of $5.29. Prospect Capital Co. has a 52-week low of $4.15 and a 52-week high of $6.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business also recently declared a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be given a dividend of $0.045 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.37%. Prospect Capital’s payout ratio is -207.69%.

Analyst Upgrades and Downgrades

PSEC has been the subject of several research analyst reports. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company dropped their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th.

Hedge Funds Weigh In On Prospect Capital

A number of large investors have recently bought and sold shares of PSEC. Virtu Financial LLC grew its holdings in shares of Prospect Capital by 175.2% in the third quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 103,679 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in Prospect Capital in the 3rd quarter worth $1,199,000. XTX Topco Ltd bought a new stake in Prospect Capital in the 3rd quarter worth $88,000. Paloma Partners Management Co bought a new position in shares of Prospect Capital during the third quarter valued at about $578,000. Finally, Captrust Financial Advisors boosted its holdings in shares of Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 3,686 shares during the period. 9.06% of the stock is owned by hedge funds and other institutional investors.

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.