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William Gremp, a director at Prospect Capital Corp (NASDAQ:PSEC), recently purchased shares worth a total of $81,983. The transactions, which took place on March 18, involved acquiring 19,100 shares of common stock at prices ranging from $4.29 to $4.30 per share, near the stock’s 52-week low of $4.09. The company, currently valued at $1.88 billion, offers a substantial 12.68% dividend yield and has maintained dividend payments for 22 consecutive years, according to InvestingPro data.
Following these acquisitions, Gremp’s direct ownership in the company increased to 75,152.65 shares. This move comes as part of Gremp’s ongoing investment in the company, reflecting his confidence in Prospect Capital’s future performance despite current challenges with profitability and short-term liquidity. For deeper insights into insider trading patterns and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
In other recent news, Prospect Capital Corporation announced its fourth-quarter 2024 financial results, revealing an earnings per share (EPS) of -$0.07, which fell short of the analyst forecast of $0.14. The company’s revenue also missed expectations, coming in at $185.5 million compared to the projected $197.7 million. Despite these results, the company reported a net investment income of $86.4 million, or $0.20 per share, demonstrating a solid income stream. Prospect Capital’s net asset value was reported at $3.4 billion, or $7.84 per share, with a net debt to total assets ratio of 28.1%. The company continues to strategically focus on first lien debt, which now comprises 64.9% of its portfolio. Analyst firms have not indicated any changes in their ratings following this earnings release. Prospect Capital plans to maintain its strategy of rotating assets into first lien senior secured middle market loans. The company’s management emphasized its continued focus on generating attractive risk-adjusted yields and reducing counterparty risk.
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