Insider Buying: Prospect Capital Corp. Director Acquires 1,000 Shares of Stock (PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) Director Eugene S. Stark bought 1,000 shares of Prospect Capital Corp. stock on the open market in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average cost of $10.27 per share, for a total transaction of $10,270.00. Following the acquisition, the director now directly owns 15,488 shares in the company, valued at approximately $159,062. The purchase was disclosed in a legal 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $11.59.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 10.34 on Wednesday. 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 $10.12 and a 200-day moving average of $10.81. The company has a market cap of $3.540 billion and a price-to-earnings ratio of 8.59.
Prospect Capital Corp. (NASDAQ:PSEC) last released its earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.01. During the same quarter in the prior year, the company posted $0.26 earnings per share. Analysts expect 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 12.84%. 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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