Insider Buying: Prospect Capital Corporation (PSEC) Insider Acquires 250,000 Shares of Stock
Prospect Capital Corporation (NASDAQ:PSEC) insider John F. Barry purchased 250,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were acquired at an average cost of $6.77 per share, for a total transaction of $1,692,500.00. Following the completion of the transaction, the insider now directly owns 27,716,950 shares of the company’s stock, valued at approximately $187,643,751.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Prospect Capital Corporation (NASDAQ PSEC) traded down $0.04 during mid-day trading on Wednesday, reaching $6.69. The company’s stock had a trading volume of 3,039,800 shares, compared to its average volume of 2,856,233. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63. Prospect Capital Corporation has a 12 month low of $5.51 and a 12 month high of $9.58. The firm has a market cap of $2,425.45, a price-to-earnings ratio of 8.31 and a beta of 0.56.
Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.01). Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The firm had revenue of $158.58 million during the quarter, compared to analyst estimates of $161.00 million. During the same period in the previous year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. sell-side analysts forecast that Prospect Capital Corporation will post 0.72 earnings per share for the current fiscal year.
Several research analysts have weighed in on the company. National Securities dropped their target price on Prospect Capital from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, October 12th. Raymond James Financial raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. UBS raised Prospect Capital from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Zacks Investment Research lowered Prospect Capital from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. Finally, BidaskClub lowered Prospect Capital from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $6.17.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new stake in shares of Prospect Capital during the 3rd quarter worth about $108,000. Jane Street Group LLC bought a new stake in shares of Prospect Capital during the 3rd quarter worth about $127,000. Regal Investment Advisors LLC boosted its stake in shares of Prospect Capital by 19.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 2,720 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Prospect Capital during the 2nd quarter worth about $142,000. Finally, Advisory Services Network LLC boosted its stake in shares of Prospect Capital by 0.6% during the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 105 shares in the last quarter. Institutional investors own 15.72% of the company’s stock.
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Prospect Capital Company Profile
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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