Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) Director Eugene Stark bought 15,000 shares of the firm's stock in a transaction on Friday, November 6th. The stock was acquired at an average cost of $1.34 per share, with a total value of $20,100.00. Following the transaction, the director owned 75,000 shares in the company, valued at $100,500. The trade was a 25.00% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Prospect Capital Price Performance
PSEC opened at $1.51 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $806.07 million, a P/E ratio of -10.07 and a beta of 0.84. The company's 50-day simple moving average is $1.88 and its two-hundred day simple moving average is $2.33. Prospect Capital Corporation has a 52-week low of $1.29 and a 52-week high of $3.12.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. Prospect Capital had a net margin of 3.80% and a return on equity of 13.19%. The firm had revenue of $151.74 million during the quarter, compared to analyst estimates of $163.14 million. As a group, analysts predict that Prospect Capital Corporation will post 0.38 EPS for the current year.
Prospect Capital Dividend Announcement
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 17th. Investors of record on Wednesday, January 27th will be given a dividend of $0.0350 per share. The ex-dividend date is Wednesday, January 27th. This represents a $0.42 dividend on an annualized basis and a yield of 27.8%. Prospect Capital's dividend payout ratio is -280.00%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in shares of Prospect Capital by 55.5% during the second quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider's stock worth $39,000 after purchasing an additional 6,056 shares in the last quarter. Signaturefd LLC raised its stake in Prospect Capital by 255.2% during the 3rd quarter. Signaturefd LLC now owns 19,337 shares of the financial services provider's stock valued at $40,000 after purchasing an additional 13,893 shares during the period. Integrity Advisory Solutions LLC purchased a new position in Prospect Capital in the 3rd quarter worth approximately $29,000. Claro Advisors Inc. lifted its holdings in Prospect Capital by 7.8% in the 3rd quarter. Claro Advisors Inc. now owns 207,700 shares of the financial services provider's stock worth $432,000 after purchasing an additional 15,000 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Prospect Capital in the 2nd quarter worth approximately $35,000. 9.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on PSEC shares. Weiss Ratings cut shares of Prospect Capital from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday, August 26th. Wall Street Zen lowered shares of Prospect Capital from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Wells Fargo & Company lowered their price target on Prospect Capital from $2.00 to $1.50 and set an "underweight" rating on the stock in a report on Friday. Finally, Zacks Research raised Prospect Capital to a "hold" rating in a report on Monday, October 5th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Sell" and a consensus price target of $1.50.
Get Our Latest Report on Prospect Capital
About Prospect Capital
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Prospect Capital Corporation is a business development company that provides financing to middle-market businesses. Its investments include senior and subordinated debt, structured finance, and equity securities.
The company works with businesses seeking capital for purposes such as growth, acquisitions, recapitalizations, and refinancing. Its portfolio spans a range of industries, with investments primarily in companies in the United States.
Founded in 2004, Prospect Capital is externally managed by Prospect Capital Management L.P.
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