StockNews.com downgraded shares of Prospect Capital (NASDAQ:PSEC - Free Report) from a hold rating to a sell rating in a research report released on Friday.
Prospect Capital Trading Up 2.0 %
NASDAQ:PSEC traded up $0.07 during trading hours on Friday, reaching $3.57. 1,665,398 shares of the stock were exchanged, compared to its average volume of 2,691,882. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -18.01 and a beta of 0.85. The business has a 50-day moving average of $4.22 and a two-hundred day moving average of $4.55. Prospect Capital has a twelve month low of $3.40 and a twelve month high of $5.72.
Prospect Capital Announces Dividend
The business also recently announced a dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, February 27th were paid a dividend of $0.045 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a yield of 12.47%. Prospect Capital's payout ratio is -270.00%.
Insider Activity
In other news, CEO John F. Barry bought 240,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average price of $4.20 per share, for a total transaction of $1,008,000.00. Following the completion of the purchase, the chief executive officer now owns 81,981,933 shares in the company, valued at approximately $344,324,118.60. This trade represents a 0.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Gremp acquired 19,100 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were bought at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the acquisition, the director now owns 75,153 shares of the company's stock, valued at $322,406.37. This represents a 34.07 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 2,548,000 shares of company stock worth $10,970,715. 28.25% of the stock is currently owned by company insiders.
Institutional Trading of Prospect Capital
A number of large investors have recently bought and sold shares of PSEC. Kovack Advisors Inc. boosted its stake in shares of Prospect Capital by 1.9% during the fourth quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider's stock worth $625,000 after buying an additional 2,732 shares during the period. Modern Wealth Management LLC grew its position in Prospect Capital by 9.3% in the 4th quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider's stock valued at $136,000 after buying an additional 2,774 shares during the last quarter. Cutter & CO Brokerage Inc. raised its position in Prospect Capital by 27.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider's stock worth $69,000 after buying an additional 3,467 shares during the last quarter. Captrust Financial Advisors increased its stake 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 acquiring an additional 3,686 shares during the period. Finally, Global Assets Advisory LLC lifted its position in Prospect Capital by 33.4% in the fourth quarter. Global Assets Advisory LLC now owns 15,998 shares of the financial services provider's stock valued at $69,000 after purchasing an additional 4,006 shares during the period. Institutional investors and hedge funds 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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