John Barry Buys 1,067,648 Shares of Prospect Capital (NASDAQ:PSEC) Stock

Prospect Capital Corporation (NASDAQ:PSEC) CEO John Barry purchased 1,067,648 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average price of $2.27 per share, with a total value of $2,423,560.96. Following the purchase, the chief executive officer owned 89,213,725 shares of the company’s stock, valued at approximately $202,515,155.75. The trade was a 1.21% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Prospect Capital Trading Up 1.8%

PSEC opened at $2.31 on Friday. Prospect Capital Corporation has a 12-month low of $2.11 and a 12-month high of $3.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $1.16 billion, a PE ratio of -6.24 and a beta of 0.78. The firm’s fifty day moving average price is $2.41 and its 200 day moving average price is $2.60.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.05. Prospect Capital had a negative net margin of 10.42% and a positive return on equity of 12.03%. The company had revenue of $150.07 million during the quarter, compared to analyst estimates of $163.23 million.

Prospect Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 27th will be paid a dividend of $0.035 per share. The ex-dividend date is Thursday, August 27th. This represents a c) annualized dividend and a yield of 18.2%. Prospect Capital’s dividend payout ratio is presently -113.51%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PSEC. Wall Street Zen upgraded Prospect Capital from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Weiss Ratings raised Prospect Capital from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Prospect Capital from $2.50 to $2.00 and set an “underweight” rating for the company in a report on Tuesday, May 12th. Two analysts have rated the stock with a Sell rating, According to MarketBeat, Prospect Capital currently has an average rating of “Sell” and an average target price of $2.00.

Institutional Trading of Prospect Capital

Large investors have recently modified their holdings of the company. Catalyst Financial Partners LLC acquired a new position in Prospect Capital during the 4th quarter valued at about $26,000. Bfsg LLC acquired a new stake in shares of Prospect Capital in the fourth quarter valued at approximately $27,000. Navalign LLC acquired a new stake in shares of Prospect Capital in the third quarter valued at approximately $28,000. Ground Swell Capital LLC bought a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $28,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.