Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek Purchases 5,000 Shares

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were bought at an average price of $4.72 per share, with a total value of $23,600.00. Following the completion of the transaction, the chief operating officer now owns 1,711,130 shares in the company, valued at $8,076,533.60. This represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

M Grier Eliasek also recently made the following trade(s):

• On Friday, November 22nd, M Grier Eliasek bought 5,000 shares of Prospect Capital stock. The shares were bought at an average cost of $4.72 per share, for a total transaction of $23,600.00.
• On Wednesday, November 20th, M Grier Eliasek purchased 5,000 shares of Prospect Capital stock. The shares were purchased at an average cost of $4.65 per share, for a total transaction of $23,250.00.
• On Monday, November 18th, M Grier Eliasek bought 5,000 shares of Prospect Capital stock. The shares were acquired at an average price of $4.46 per share, for a total transaction of $22,300.00.

Prospect Capital Stock Performance

PSEC stock opened at $4.78 on Friday. The firm has a market cap of $2.08 billion, a PE ratio of -18.38 and a beta of 1.00. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.65. The stock has a 50-day moving average price of $5.05 and a 200-day moving average price of $5.28. Prospect Capital Co. has a 1-year low of $4.15 and a 1-year high of $6.30.

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

Prospect Capital Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 annualized dividend and a dividend yield of 11.30%. Prospect Capital’s dividend payout ratio is currently -207.69%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSEC. Wells Fargo & Company cut their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday, August 30th. StockNews.com lowered Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Institutional Trading of Prospect Capital

Several large investors have recently made changes to their positions in the company. XML Financial LLC grew its stake in Prospect Capital by 8.1% in the third quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after acquiring an additional 153,180 shares during the period. OLD National Bancorp IN acquired a new stake in Prospect Capital in the 2nd quarter valued at $137,000. Van ECK Associates Corp increased its stake in Prospect Capital by 23.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock valued at $47,376,000 after purchasing an additional 1,690,290 shares in the last quarter. Creative Planning raised its holdings in Prospect Capital by 387.3% during the second quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock worth $973,000 after buying an additional 139,842 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in shares of Prospect Capital by 344.0% in the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after buying an additional 722,925 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.