Prospect Capital Corporation (NASDAQ:PSEC) CEO John F. Barry purchased 408,207 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was bought at an average cost of $6.87 per share, for a total transaction of $2,804,382.09. Following the completion of the acquisition, the chief executive officer now directly owns 29,870,847 shares in the company, valued at approximately $205,212,718.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Prospect Capital Corporation (NASDAQ PSEC) traded up $0.05 during midday trading on Wednesday, reaching $6.96. 1,743,913 shares of the company’s stock traded hands, compared to its average volume of 2,846,063. The stock has a market capitalization of $2,479.51, a P/E ratio of 8.49 and a beta of 0.56. Prospect Capital Corporation has a 1-year low of $5.51 and a 1-year high of $9.58. 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 (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.01). The business had revenue of $158.58 million for 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 period last year, the company earned $0.22 earnings per share. equities research analysts expect that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.
A number of brokerages recently weighed in on PSEC. ValuEngine raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. National Securities cut their price target on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. BMO Capital Markets dropped their price objective on shares of Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a report on Friday, November 10th. Finally, TheStreet downgraded shares of Prospect Capital from a “b-” rating to a “c+” rating in a report on Wednesday, September 27th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.17.
Institutional investors have recently made changes to their positions in the company. Trexquant Investment LP bought a new position in shares of Prospect Capital in the third quarter worth approximately $108,000. Regal Investment Advisors LLC increased its position in shares of 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 worth $137,000 after purchasing an additional 2,720 shares during the last quarter. Advisory Services Network LLC increased its position in shares of 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 worth $144,000 after purchasing an additional 105 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Prospect Capital in the third quarter worth approximately $127,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 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 worth $160,000 after purchasing an additional 1,507 shares during the last quarter. 15.60% of the stock is currently owned by hedge funds and other institutional investors.
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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