Key Points
- Prospect Capital CEO John Barry bought 232,000 shares on May 22 at an average price of $2.32, totaling about $538,240. After the purchase, he directly owned 86.7 million shares.
- The company recently reported earnings of $0.16 per share, topping analyst expectations of $0.11, though revenue came in below forecasts at $150.07 million.
- Prospect Capital also declared a monthly dividend of $0.035 per share, implying an annualized yield of 17.9%, while analysts currently maintain a consensus Sell rating with a $2.00 price target.
Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) CEO John Barry bought 232,000 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were acquired at an average price of $2.32 per share, for a total transaction of $538,240.00. Following the completion of the transaction, the chief executive officer directly owned 86,689,351 shares in the company, valued at approximately $201,119,294.32. This trade represents a 0.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Prospect Capital Price Performance
NASDAQ:PSEC opened at $2.34 on Thursday. Prospect Capital Corporation has a 52 week low of $2.11 and a 52 week high of $3.50. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.17 billion, a PE ratio of -6.32 and a beta of 0.82. The stock's 50-day moving average price is $2.55 and its 200-day moving average price is $2.66.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last posted its earnings results on Thursday, May 7th. The financial services provider reported $0.16 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.05. Prospect Capital had a positive return on equity of 12.03% and a negative net margin of 10.42%.The firm had revenue of $150.07 million for the quarter, compared to analysts' expectations of $163.23 million.
Prospect Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 27th will be given a dividend of $0.035 per share. This represents a c) annualized dividend and a dividend yield of 17.9%. The ex-dividend date is Thursday, August 27th. Prospect Capital's dividend payout ratio is -145.95%.
Institutional Trading of Prospect Capital
Several hedge funds have recently made changes to their positions in PSEC. Catalyst Financial Partners LLC purchased a new stake in shares of Prospect Capital in the 4th quarter valued at approximately $26,000. Bfsg LLC purchased a new stake in shares of Prospect Capital in the 4th quarter valued at approximately $27,000. Navalign LLC purchased a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $28,000. Ground Swell Capital LLC purchased a new stake in shares of Prospect Capital in the 4th quarter valued at approximately $28,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of Prospect Capital in the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 9.06% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on PSEC shares. Wells Fargo & Company dropped their price objective on shares of Prospect Capital from $2.50 to $2.00 and set an "underweight" rating for the company in a research note on Tuesday, May 12th. Wall Street Zen raised shares of Prospect Capital from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Prospect Capital in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of "Sell" and an average price target of $2.00.
Read Our Latest Stock Analysis on PSEC
Prospect Capital Company Profile
(
Get Free Report)
Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.
Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.
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