Prospect Capital Co. (NASDAQ:PSEC) Director Purchases $81,939.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) Director William Gremp bought 19,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was purchased at an average price of $4.29 per share, with a total value of $81,939.00. Following the transaction, the director now directly owns 75,153 shares in the company, valued at $322,406.37. The trade was a 34.07 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

William Gremp also recently made the following trade(s):

• On Friday, March 14th, William Gremp bought 900 shares of Prospect Capital stock. The stock was purchased at an average price of $4.24 per share, with a total value of $3,816.00.

Prospect Capital Price Performance

PSEC stock remained flat at $4.26 during midday trading on Thursday. The company had a trading volume of 2,583,236 shares, compared to its average volume of 2,584,136. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -21.30 and a beta of 0.94. The stock’s 50-day moving average price is $4.32 and its 200-day moving average price is $4.69. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $5.72. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.60.

Prospect Capital Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 27th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a yield of 12.47%. Prospect Capital’s payout ratio is -270.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 6th.

Institutional Investors Weigh In On Prospect Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSEC. Balyasny Asset Management L.P. grew its stake in shares of Prospect Capital by 6,177.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider’s stock worth $10,684,000 after acquiring an additional 2,439,426 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new stake in shares of Prospect Capital in the fourth quarter worth $7,880,000. Envestnet Asset Management Inc. grew its stake in shares of Prospect Capital by 4,160.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock worth $4,080,000 after acquiring an additional 924,428 shares during the last quarter. Naviter Wealth LLC purchased a new stake in shares of Prospect Capital in the fourth quarter worth $2,216,000. Finally, Two Sigma Investments LP grew its stake in shares of Prospect Capital by 115.9% in the fourth quarter. Two Sigma Investments LP now owns 684,812 shares of the financial services provider’s stock worth $2,952,000 after acquiring an additional 367,634 shares during the last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.