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

Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) CEO John F. Barry purchased 240,000 shares of the firm's stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $4.30 per share, for a total transaction of $1,032,000.00. Following the purchase, the chief executive officer now directly owns 82,461,933 shares of the company's stock, valued at approximately $354,586,311.90. This represents a 0.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC traded down $0.04 on Friday, hitting $4.22. The stock had a trading volume of 2,903,684 shares, compared to its average volume of 2,592,752. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $5.72. 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 firm's 50 day moving average price is $4.32 and its 200-day moving average price is $4.67. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -21.10 and a beta of 0.94.

Prospect Capital Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were issued a $0.045 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a dividend yield of 12.47%. Prospect Capital's dividend payout ratio is -270.00%.

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Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Prostatis Group LLC bought a new position in shares of Prospect Capital in the fourth quarter valued at about $98,000. Palogic Value Management L.P. raised its holdings in shares of Prospect Capital by 50.8% in the fourth quarter. Palogic Value Management L.P. now owns 351,294 shares of the financial services provider's stock valued at $1,514,000 after buying an additional 118,400 shares during the last quarter. Comprehensive Money Management Services LLC bought a new position in shares of Prospect Capital in the fourth quarter valued at about $72,000. Ameriflex Group Inc. bought a new position in shares of Prospect Capital in the fourth quarter valued at about $62,000. Finally, Alpine Global Management LLC bought a new position in shares of Prospect Capital in the fourth quarter valued at about $346,000. 9.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a research note 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.