Prospect Capital Corporation (PSEC) CEO Purchases $2,804,382.09 in Stock

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.

The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date is Tuesday, January 30th. Prospect Capital’s payout ratio is 144.00%.

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.

COPYRIGHT VIOLATION NOTICE: “Prospect Capital Corporation (PSEC) CEO Purchases $2,804,382.09 in Stock” was first published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this article can be accessed at https://sportsperspectives.com/2017/12/20/prospect-capital-corporation-psec-ceo-purchases-2804382-09-in-stock.html.

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.

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

Receive News & Ratings for Prospect Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply