Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) CEO John F. Barry bought 1,000,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was acquired at an average cost of $4.59 per share, with a total value of $4,590,000.00. Following the transaction, the chief executive officer now owns 75,465,285 shares in the company, valued at $346,385,658.15. The trade was a 1.34 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Prospect Capital Price Performance
PSEC traded up $0.18 on Friday, hitting $4.83. 4,634,805 shares of the company's stock traded hands, compared to its average volume of 2,372,889. Prospect Capital Co. has a one year low of $4.15 and a one year high of $6.30. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -18.54 and a beta of 1.00. The company's 50 day simple moving average is $5.12 and its 200-day simple moving average is $5.30.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm had revenue of $196.31 million for 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 firm also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be issued a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date is Wednesday, January 29th. Prospect Capital's dividend payout ratio (DPR) is presently -207.69%.
Hedge Funds Weigh In On Prospect Capital
Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its stake in Prospect Capital by 275.0% during the first quarter. BNP Paribas Financial Markets now owns 43,616 shares of the financial services provider's stock worth $241,000 after acquiring an additional 31,985 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of Prospect Capital by 51.2% during the 1st quarter. Janney Montgomery Scott LLC now owns 23,633 shares of the financial services provider's stock valued at $130,000 after purchasing an additional 8,000 shares during the last quarter. ProShare Advisors LLC raised its holdings in Prospect Capital by 18.8% during the 1st quarter. ProShare Advisors LLC now owns 51,349 shares of the financial services provider's stock valued at $283,000 after buying an additional 8,142 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Prospect Capital by 13.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 294,706 shares of the financial services provider's stock worth $1,629,000 after buying an additional 34,035 shares during the last quarter. Finally, Comerica Bank boosted its stake in Prospect Capital by 166.7% during the first quarter. Comerica Bank now owns 24,000 shares of the financial services provider's stock worth $132,000 after buying an additional 15,000 shares during the period. Institutional investors own 9.06% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on PSEC shares. StockNews.com cut Prospect Capital from a "hold" rating to a "sell" rating in a research report on Friday, August 30th. Wells Fargo & Company reduced their target price on shares of Prospect Capital from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Friday, August 30th.
Read Our Latest Report on Prospect Capital
About Prospect Capital
(
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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.
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