Prospect Capital (NASDAQ:PSEC) Stock: Insider Eugene Stark Purchases 15,000 Shares

Prospect Capital Corporation (NASDAQ:PSEC) Director Eugene Stark purchased 15,000 shares of Prospect Capital stock in a transaction on Friday, November 6th. The stock was bought at an average price of $1.34 per share, for a total transaction of $20,100.00. Following the completion of the acquisition, the director owned 75,000 shares in the company, valued at $100,500. The trade was a 25.00% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Prospect Capital Stock Down 0.7%

Shares of PSEC stock opened at $1.50 on Wednesday. Prospect Capital Corporation has a 52 week low of $1.29 and a 52 week high of $3.12. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $1.86 and its two-hundred day simple moving average is $2.32. The stock has a market cap of $835.49 million, a P/E ratio of -10.00 and a beta of 0.84.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The company had revenue of $151.74 million during the quarter, compared to analyst estimates of $163.14 million. Prospect Capital had a return on equity of 13.28% and a net margin of 3.80%. Analysts predict that Prospect Capital Corporation will post 0.38 EPS for the current fiscal year.

Prospect Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, February 17th. Stockholders of record on Wednesday, January 27th will be given a dividend of $0.0350 per share. This represents a $0.42 dividend on an annualized basis and a dividend yield of 28.0%. The ex-dividend date is Wednesday, January 27th. Prospect Capital’s dividend payout ratio is currently -280.00%.

Institutional Investors Weigh In On Prospect Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC purchased a new position in shares of Prospect Capital during the third quarter valued at approximately $4,200,000. Focus Advisor Solutions LLC raised its holdings in shares of Prospect Capital by 19.9% in the third quarter. Focus Advisor Solutions LLC now owns 275,411 shares of the financial services provider’s stock worth $573,000 after buying an additional 45,717 shares during the period. GatePass Capital LLC raised its holdings in shares of Prospect Capital by 26.5% in the third quarter. GatePass Capital LLC now owns 549,150 shares of the financial services provider’s stock worth $1,142,000 after buying an additional 115,100 shares during the period. Lido Advisors LLC raised its holdings in shares of Prospect Capital by 46.0% in the third quarter. Lido Advisors LLC now owns 130,083 shares of the financial services provider’s stock worth $271,000 after buying an additional 41,006 shares during the period. Finally, Csenge Advisory Group lifted its stake in shares of Prospect Capital by 131.7% during the 3rd quarter. Csenge Advisory Group now owns 98,395 shares of the financial services provider’s stock worth $205,000 after acquiring an additional 55,935 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Weiss Ratings cut shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 26th. Wall Street Zen downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Zacks Research raised shares of Prospect Capital to a “hold” rating in a research note on Monday, October 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $2.00 to $1.50 and set an “underweight” rating for the company in a research report on Friday, November 6th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus target price of $1.50.

About Prospect Capital

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. and is headquartered in New York City.