Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) COO Buys 5,000 Shares of Stock

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

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

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

Prospect Capital Stock Performance

Prospect Capital stock traded up $0.05 on Friday, hitting $4.80. The company’s stock had a trading volume of 1,437,850 shares, compared to its average volume of 2,377,055. The company has a fifty day moving average price of $5.05 and a 200-day moving average price of $5.28. The firm has a market cap of $2.09 billion, a P/E ratio of -18.38 and a beta of 1.00. Prospect Capital Co. has a one year low of $4.15 and a one year 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.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.04. The firm 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 declared a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be paid a $0.045 dividend. This represents a $0.54 annualized dividend and a yield of 11.25%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is -207.69%.

Institutional Trading of Prospect Capital

Large investors have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in shares of Prospect Capital by 23.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,938,863 shares of the financial services provider’s stock worth $47,376,000 after purchasing an additional 1,690,290 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Prospect Capital by 303.6% during the 2nd quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock worth $29,064,000 after buying an additional 3,808,560 shares in the last quarter. XML Financial LLC boosted its position in Prospect Capital by 8.1% in the 3rd quarter. XML Financial LLC now owns 2,044,448 shares of the financial services provider’s stock valued at $10,938,000 after buying an additional 153,180 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Prospect Capital by 344.0% in the 3rd 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 during the period. Finally, TrueMark Investments LLC bought a new stake in shares of Prospect Capital during the second quarter worth $2,107,000. 9.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Friday, August 30th. Wells Fargo & Company reduced their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th.

About Prospect Capital

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.