Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) CFO Purchases $28,400.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) CFO Dask Kristin Lea Van purchased 5,000 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $5.68 per share, for a total transaction of $28,400.00. Following the purchase, the chief financial officer now directly owns 5,000 shares of the company’s stock, valued at approximately $28,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prospect Capital Price Performance

Shares of NASDAQ PSEC opened at $5.81 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.66. Prospect Capital Co. has a 52 week low of $5.03 and a 52 week high of $7.83. The business’s 50 day moving average price is $5.81 and its 200 day moving average price is $6.11. The firm has a market cap of $2.38 billion, a P/E ratio of 52.82 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Tuesday, August 29th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. Prospect Capital had a return on equity of 13.30% and a net margin of 10.27%. The company had revenue of $221.50 million for the quarter, compared to the consensus estimate of $220.43 million. On average, sell-side analysts expect that Prospect Capital Co. will post 0.86 earnings per share for the current year.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, February 20th. Shareholders of record on Monday, January 29th will be issued a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 12.39%. The ex-dividend date of this dividend is Friday, January 26th. Prospect Capital’s payout ratio is presently 654.60%.

Institutional Investors Weigh In On Prospect Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. acquired a new position in shares of Prospect Capital in the 3rd quarter valued at $34,000. Global Retirement Partners LLC grew its position in Prospect Capital by 56.7% during the first quarter. Global Retirement Partners LLC now owns 6,267 shares of the financial services provider’s stock valued at $39,000 after buying an additional 2,267 shares during the period. Ameritas Advisory Services LLC purchased a new position in Prospect Capital in the first quarter valued at $45,000. WealthPLAN Partners LLC raised its position in shares of Prospect Capital by 458.7% in the second quarter. WealthPLAN Partners LLC now owns 8,330 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 6,839 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Prospect Capital during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 8.09% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Prospect Capital from a “hold” rating to a “sell” rating in a research report on Monday.

About Prospect Capital

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.