Prospect Capital Corporation (PSEC) CEO Acquires $1,806,870.34 in Stock
Prospect Capital Corporation (NASDAQ:PSEC) CEO John F. Barry acquired 264,937 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were acquired at an average price of $6.82 per share, with a total value of $1,806,870.34. Following the completion of the purchase, the chief executive officer now owns 28,576,578 shares of the company’s stock, valued at $194,892,261.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Prospect Capital Corporation (PSEC) traded up $0.01 during mid-day trading on Thursday, hitting $6.79. 2,022,900 shares of the stock traded hands, compared to its average volume of 2,838,754. The stock has a market capitalization of $2,443.47, a P/E ratio of 8.37 and a beta of 0.56. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital Corporation has a fifty-two week low of $5.51 and a fifty-two week high of $9.58.
Prospect Capital (NASDAQ:PSEC) last announced 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). The firm had revenue of $158.58 million during the quarter, compared to analysts’ expectations of $161.00 million. Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. Prospect Capital’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.22 earnings per share. research analysts forecast that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.
Several research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. National Securities decreased their target price on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating for the company in a research note on Tuesday, November 14th. ValuEngine upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BidaskClub downgraded shares of Prospect Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Finally, Raymond James Financial upgraded shares of Prospect Capital from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $6.17.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in Prospect Capital in the third quarter valued at $108,000. Jane Street Group LLC acquired a new stake in Prospect Capital in the third quarter valued at $127,000. Regal Investment Advisors LLC raised its holdings in Prospect Capital by 19.3% in the second quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock valued at $137,000 after acquiring an additional 2,720 shares in the last quarter. Advisory Services Network LLC raised its holdings in Prospect Capital by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 105 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Prospect Capital by 8.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 1,507 shares in the last quarter. 15.72% of the stock is currently owned by hedge funds and other institutional investors.
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About Prospect Capital
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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