Prospect Capital Corporation (PSEC) Insider John F. Barry Buys 250,000 Shares of Stock

Prospect Capital Corporation (NASDAQ:PSEC) insider John F. Barry purchased 250,000 shares of Prospect Capital stock in a transaction on Monday, December 4th. The stock was purchased at an average price of $6.77 per share, for a total transaction of $1,692,500.00. Following the completion of the transaction, the insider now owns 27,716,950 shares of the company’s stock, valued at $187,643,751.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Prospect Capital Corporation (NASDAQ PSEC) traded up $0.08 on Friday, hitting $6.76. 2,944,477 shares of the company were exchanged, compared to its average volume of 2,848,649. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63. The company has a market capitalization of $2,411.04, a P/E ratio of 8.26 and a beta of 0.56. Prospect Capital Corporation has a twelve month low of $5.51 and a twelve month high of $9.58.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $158.58 million for the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.22 earnings per share. equities analysts anticipate that Prospect Capital Corporation will post 0.72 earnings per share for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a yield of 10.65%. The ex-dividend date of this dividend is Tuesday, January 30th. Prospect Capital’s payout ratio is presently 144.00%.

Large investors have recently modified their holdings of the business. Americafirst Capital Management LLC bought a new stake in Prospect Capital in the second quarter valued at approximately $378,000. Legal & General Group Plc increased its stake in Prospect Capital by 13.2% in the second quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock valued at $7,816,000 after purchasing an additional 112,354 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in Prospect Capital in the second quarter valued at approximately $7,697,000. Wedbush Securities Inc. increased its stake in Prospect Capital by 5.0% in the second quarter. Wedbush Securities Inc. now owns 90,228 shares of the financial services provider’s stock valued at $733,000 after purchasing an additional 4,259 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Prospect Capital by 2.7% during the second quarter. California Public Employees Retirement System now owns 767,000 shares of the financial services provider’s stock worth $6,228,000 after acquiring an additional 20,100 shares in the last quarter. 15.72% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have commented on PSEC. TheStreet lowered shares of Prospect Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. Zacks Investment Research lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. ValuEngine upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. BMO Capital Markets reduced their price target on shares of Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, November 10th. Finally, National Securities reduced their price target on shares of Prospect Capital from $6.00 to $5.00 and set a “sell” rating on the stock in a research report on Thursday, October 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.17.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://ledgergazette.com/2017/12/08/prospect-capital-corporation-psec-insider-john-f-barry-buys-250000-shares-of-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 Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply