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

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek acquired 5,000 shares of Prospect Capital stock in a transaction dated Friday, November 22nd. The shares were acquired at an average price of $4.72 per share, with a total value of $23,600.00. Following the completion of the acquisition, the chief operating officer now directly owns 1,701,130 shares of the company’s stock, valued at approximately $8,029,333.60. The trade was 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 the SEC website.

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

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

Prospect Capital Stock Performance

Prospect Capital stock traded down $0.07 during midday trading on Tuesday, reaching $4.74. The stock had a trading volume of 2,545,555 shares, compared to its average volume of 2,377,038. The firm has a market capitalization of $2.07 billion, a PE ratio of -18.23 and a beta of 1.00. Prospect Capital Co. has a 12 month low of $4.15 and a 12 month high of $6.30. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $5.09 and its 200 day moving average price is $5.30.

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

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.39%. Prospect Capital’s dividend payout ratio is currently -276.92%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSEC. Wells Fargo & Company cut their price target on shares of 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 shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Institutional Investors Weigh In On Prospect Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC increased its holdings in Prospect Capital by 175.2% during the 3rd quarter. Virtu Financial LLC now owns 162,844 shares of the financial services provider’s stock worth $871,000 after acquiring an additional 103,679 shares during the period. Arete Wealth Advisors LLC purchased a new stake in shares of Prospect Capital in the third quarter worth $1,199,000. XTX Topco Ltd bought a new stake in Prospect Capital during the third quarter valued at $88,000. Paloma Partners Management Co purchased a new position in Prospect Capital during the third quarter worth about $578,000. Finally, Captrust Financial Advisors raised its holdings in shares of Prospect Capital by 34.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 3,686 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors.

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.