Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires $8,580,000.00 in Stock

Prospect Capital Co. (NASDAQ:PSECGet Free Report) CEO John F. Barry acquired 2,000,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The stock was acquired at an average cost of $4.29 per share, for a total transaction of $8,580,000.00. Following the transaction, the chief executive officer now owns 79,477,549 shares of the company’s stock, valued at approximately $340,958,685.21. The trade was a 2.58 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Prospect Capital Stock Down 1.6 %

PSEC opened at $4.26 on Monday. Prospect Capital Co. has a twelve month low of $4.09 and a twelve month high of $6.26. The company’s 50-day moving average price is $4.69 and its two-hundred day moving average price is $5.11. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of -16.38 and a beta of 0.97. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65.

Prospect Capital (NASDAQ:PSECGet Free Report) last posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The business had revenue of $196.31 million for the quarter.

Prospect Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be issued a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 12.68%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is currently -207.69%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research note on Friday, December 6th.

Get Our Latest Research Report on Prospect Capital

Institutional Investors Weigh In On Prospect Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legacy Wealth Management LLC MS purchased a new position in shares of Prospect Capital in the third quarter worth about $451,000. Virtu Financial LLC grew its stake in Prospect Capital by 175.2% in the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock valued at $871,000 after buying an additional 103,679 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in Prospect Capital during the 3rd quarter valued at $1,199,000. XTX Topco Ltd purchased a new stake in shares of Prospect Capital during the third quarter worth $88,000. Finally, Paloma Partners Management Co bought a new position in shares of Prospect Capital in the third quarter worth $578,000. 9.06% of the stock is currently owned by institutional investors.

Prospect Capital Company Profile

(Get Free Report)

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.

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Insider Buying and Selling by Quarter for Prospect Capital (NASDAQ:PSEC)

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