Prospect Capital (NASDAQ:PSEC) Hits New 12-Month Low – Here’s What Happened

Shares of Prospect Capital Co. (NASDAQ:PSEC) reached a new 52-week low during trading on Tuesday . The company traded as low as $4.09 and last traded at $4.22, with a volume of 703552 shares. The stock had previously closed at $4.17.

Analyst Ratings Changes

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

Prospect Capital Stock Performance

The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of -16.37 and a beta of 0.99. The company’s fifty day simple moving average is $4.33 and its two-hundred day simple moving average is $4.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%. The firm had revenue of $196.31 million during the quarter.

Insider Activity

In other Prospect Capital news, CEO John F. Barry bought 837,273 shares of the stock in a transaction on Monday, November 18th. The stock was purchased at an average price of $4.47 per share, for a total transaction of $3,742,610.31. Following the completion of the purchase, the chief executive officer now directly owns 73,450,112 shares in the company, valued at approximately $328,322,000.64. This trade represents a 1.15 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO M Grier Eliasek purchased 210,000 shares of Prospect Capital stock in a transaction dated Friday, November 29th. The stock was acquired at an average price of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the transaction, the chief operating officer now owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. The trade was a 10.93 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 5,273,173 shares of company stock worth $23,701,420. 27.10% of the stock is currently owned by insiders.

Institutional Trading of Prospect Capital

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Assets Advisory LLC bought a new position in Prospect Capital during the 3rd quarter worth $64,000. PFG Advisors bought a new stake in Prospect Capital in the 4th quarter valued at about $57,000. Captrust Financial Advisors boosted its stake in Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 3,686 shares during the period. Independent Advisor Alliance bought a new position in Prospect Capital in the 4th quarter worth about $62,000. Finally, Cutter & CO Brokerage Inc. grew its holdings in Prospect Capital by 27.8% in the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider’s stock worth $69,000 after buying an additional 3,467 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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.