Insider Buying: John F. Barry Acquires 100,000 Shares of Prospect Capital Corp. Stock (PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) CEO John F. Barry bought 100,000 shares of Prospect Capital Corp. stock in a transaction dated Thursday, June 12th. The stock was purchased at an average cost of $10.33 per share, with a total value of $1,033,000.00. Following the acquisition, the chief executive officer now directly owns 4,010,959 shares in the company, valued at approximately $41,433,206. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.
A number of research firms have recently commented on PSEC. Analysts at Evercore Partners upgraded shares of Prospect Capital Corp. from an “underweight” rating to an “equal weight” rating in a research note on Thursday, May 29th. They now have a $10.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Prospect Capital Corp. from $11.75 to $11.00 in a research note on Friday, May 9th. Finally, analysts at Guggenheim upgraded shares of Prospect Capital Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday, April 10th. They now have a $12.00 price target on the stock, up previously from $11.50. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $11.59.
Prospect Capital Corp. (NASDAQ:PSEC) traded up 0.79% on Monday, hitting $10.26. 4,989,669 shares of the company’s stock traded hands. Prospect Capital Corp. has a 52-week low of $9.17 and a 52-week high of $11.62. The stock has a 50-day moving average of $10.18 and a 200-day moving average of $10.83.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its earnings results on Tuesday, May 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. During the same quarter in the previous year, the company posted $0.26 earnings per share. On average, analysts predict that Prospect Capital Corp. will post $1.27 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Thursday, November 20th. Stockholders of record on Friday, October 31st will be paid a dividend of $0.1106 per share. This represents a $1.33 annualized dividend and a dividend yield of 12.93%. The ex-dividend date is Wednesday, October 29th. This is a boost from Prospect Capital Corp.’s previous monthly dividend of $0.11.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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