Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CEO Acquires 24,000 Shares of Stock

Prospect Capital Co. (NASDAQ:PSEC) CEO John F. Barry purchased 24,000 shares of the stock in a transaction on Monday, March 24th. The shares were acquired at an average cost of $4.24 per share, for a total transaction of $101,760.00. Following the transaction, the chief executive officer now owns 82,594,540 shares of the company’s stock, valued at approximately $350,200,849.60. The trade was a 0.03 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Prospect Capital Price Performance

Prospect Capital stock traded down $0.01 during mid-day trading on Wednesday, reaching $4.23. 2,274,187 shares of the company were exchanged, compared to its average volume of 2,591,718. The company has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $4.66. The firm has a market cap of $1.89 billion, a PE ratio of -21.15 and a beta of 0.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.76 and a quick ratio of 0.76. Prospect Capital Co. has a 12 month low of $4.09 and a 12 month high of $5.72.

Prospect Capital Dividend Announcement

The company also recently disclosed a dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 27th were given a dividend of $0.045 per share. The ex-dividend date was Wednesday, February 26th. This represents a yield of 12.47%. Prospect Capital’s dividend payout ratio is currently -270.00%.

Analyst Ratings Changes

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

Institutional Trading of Prospect Capital

Several institutional investors and hedge funds have recently modified their holdings of the business. Balyasny Asset Management L.P. increased its holdings in Prospect Capital by 6,177.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,478,914 shares of the financial services provider’s stock worth $10,684,000 after purchasing an additional 2,439,426 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of Prospect Capital during the fourth quarter valued at $7,880,000. Envestnet Asset Management Inc. lifted its holdings in shares of Prospect Capital by 4,160.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 946,648 shares of the financial services provider’s stock worth $4,080,000 after purchasing an additional 924,428 shares during the period. Naviter Wealth LLC bought a new stake in shares of Prospect Capital in the fourth quarter worth $2,216,000. Finally, Two Sigma Investments LP increased its holdings in 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 valued at $2,952,000 after purchasing an additional 367,634 shares during the period. 9.06% of the stock is currently owned by 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.