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.
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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