Prospect capital CEO John Barry buys $102,667 in stock

Published 24/03/2025, 21:06
Prospect capital CEO John Barry buys $102,667 in stock

John Barry, the CEO of Prospect Capital Corp (NASDAQ:PSEC), recently purchased 24,000 shares of the company’s common stock. The transaction, dated March 20, 2025, was executed at an average price of $4.2778 per share, amounting to a total investment of $102,667. The purchase comes as PSEC trades near its 52-week low of $4.09, with the stock down about 18% over the past six months. According to InvestingPro, the company maintains an impressive 12.8% dividend yield. Following this acquisition, Barry holds over 82.5 million shares directly. Additionally, 342,447 shares are indirectly owned by his spouse. This move reflects continued confidence in the company’s prospects by its top executive, despite recent challenges including declining revenues (-9.9% year-over-year) and current liquidity concerns. InvestingPro analysis reveals 5 additional key factors affecting PSEC’s outlook, including its 22-year track record of consistent dividend payments.

In other recent news, Prospect Capital Corporation reported its fourth-quarter 2024 earnings, revealing a significant miss with earnings per share (EPS) of -$0.07, falling short of the forecasted $0.14. The company’s revenue also did not meet expectations, coming in at $185.5 million compared to the anticipated $197.7 million. Despite these results, the company maintained a strong net investment income of $86.4 million, or $0.20 per share, underscoring its ability to generate income even amid broader earnings challenges. Prospect Capital’s portfolio strategy remains focused on first lien debt, which now comprises 64.9% of its holdings, an increase of 620 basis points from the previous year. The company’s executives emphasized their continued strategy of rotating assets into first lien senior secured middle market loans, aiming to capitalize on value-add capital expenditures. Analysts from Wells Fargo (NYSE:WFC) inquired about the company’s unsecured debt strategy, with executives noting their diversified financing approach remains flexible to adapt to changing market conditions. Additionally, the company has announced monthly shareholder distributions, reflecting its ongoing commitment to returning value to shareholders. Prospect Capital’s management highlighted their long-standing role in pioneering various financing methods within the industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2025 - Fusion Media Limited. All Rights Reserved.