Prospect Capital Corporation (NASDAQ:PSEC – Get Free Report) CEO John Barry bought 433,000 shares of Prospect Capital stock in a transaction on Tuesday, May 26th. The shares were acquired at an average cost of $2.32 per share, with a total value of $1,004,560.00. Following the completion of the acquisition, the chief executive officer owned 87,122,376 shares of the company’s stock, valued at $202,123,912.32. The trade was a 0.50% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.
Prospect Capital Stock Up 1.3%
NASDAQ PSEC opened at $2.37 on Friday. The stock’s 50-day moving average price is $2.55 and its 200-day moving average price is $2.66. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.59. Prospect Capital Corporation has a 52 week low of $2.11 and a 52 week high of $3.50. The company has a market capitalization of $1.19 billion, a P/E ratio of -6.41 and a beta of 0.82.
Prospect Capital (NASDAQ:PSEC – Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The financial services provider reported $0.16 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $163.23 million.
Prospect Capital Announces Dividend
Analysts Set New Price Targets
Several brokerages recently issued reports on PSEC. Wells Fargo & Company dropped their price objective on Prospect Capital from $2.50 to $2.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 12th. Wall Street Zen raised Prospect Capital from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Prospect Capital has a consensus rating of “Sell” and a consensus price target of $2.00.
Read Our Latest Stock Report on PSEC
Institutional Trading of Prospect Capital
A number of institutional investors have recently made changes to their positions in PSEC. Catalyst Financial Partners LLC purchased a new stake in Prospect Capital in the fourth quarter valued at approximately $26,000. Navalign LLC purchased a new stake in Prospect Capital in the third quarter valued at approximately $28,000. Bfsg LLC purchased a new stake in Prospect Capital in the fourth quarter valued at approximately $27,000. Ground Swell Capital LLC purchased a new stake in Prospect Capital in the fourth quarter valued at approximately $28,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in Prospect Capital in the fourth quarter valued at approximately $28,000. Institutional investors and hedge funds own 9.06% of the company’s stock.
Prospect Capital Company Profile
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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