Shares of Prospect Capital Co. (NASDAQ:PSEC - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 3,283,472 shares were traded during trading, an increase of 33% from the previous session's volume of 2,477,621 shares.The stock last traded at $4.29 and had previously closed at $4.16.
Wall Street Analyst Weigh In
A number of analysts have commented on PSEC shares. StockNews.com upgraded Prospect Capital from a "sell" rating to a "hold" rating in a research report on Friday, December 6th. 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.
Get Our Latest Analysis on PSEC
Prospect Capital Stock Performance
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 company has a market cap of $1.90 billion, a PE ratio of -16.77 and a beta of 0.97. The business's 50 day moving average is $4.75 and its two-hundred day moving average is $5.13.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.04. The firm had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.
Prospect Capital Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be given a dividend of $0.045 per share. This represents a $0.54 annualized dividend and a dividend yield of 12.39%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital's payout ratio is currently -207.69%.
Insider Buying and Selling
In other news, CEO John F. Barry bought 205,900 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were bought at an average cost of $4.40 per share, for a total transaction of $905,960.00. Following the completion of the transaction, the chief executive officer now owns 72,612,839 shares of the company's stock, valued at approximately $319,496,491.60. This represents a 0.28 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO M Grier Eliasek purchased 210,000 shares of the business's stock in a transaction on Friday, November 29th. The shares were purchased at an average price of $4.81 per share, with a total value of $1,010,100.00. Following the acquisition, the chief operating officer now directly owns 2,131,130 shares in the company, valued at $10,250,735.30. This represents a 10.93 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 3,273,173 shares of company stock worth $15,121,420. 27.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Prospect Capital
Institutional investors have recently bought and sold shares of the business. XML Financial LLC lifted its holdings in shares of Prospect Capital by 8.1% in 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 acquiring an additional 153,180 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Prospect Capital by 23.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider's stock valued at $47,376,000 after purchasing an additional 1,690,290 shares during the last quarter. Creative Planning boosted its holdings in shares of Prospect Capital by 387.3% in the 2nd quarter. Creative Planning now owns 175,953 shares of the financial services provider's stock worth $973,000 after purchasing an additional 139,842 shares during the period. International Assets Investment Management LLC increased its position in shares of Prospect Capital by 344.0% during the 3rd quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider's stock valued at $4,992,000 after purchasing an additional 722,925 shares during the last quarter. Finally, CWM LLC raised its holdings in Prospect Capital by 101.4% during the 3rd quarter. CWM LLC now owns 19,310 shares of the financial services provider's stock valued at $103,000 after buying an additional 9,721 shares during the period. Institutional investors own 9.06% of the company's stock.
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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