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

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek acquired 5,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were bought at an average price of $4.72 per share, for a total transaction of $23,600.00. Following the purchase, the chief operating officer now directly owns 1,701,130 shares of the company’s stock, valued at approximately $8,029,333.60. This trade represents a 0.29 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 purchased at an average price of $4.65 per share, with a total value 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 Trading Up 0.2 %

Prospect Capital stock opened at $4.75 on Thursday. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of -18.27 and a beta of 1.00. Prospect Capital Co. has a 1 year low of $4.15 and a 1 year high of $6.30. The firm’s 50 day moving average price is $5.08 and its two-hundred day moving average price is $5.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The business 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 Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.37%. Prospect Capital’s payout ratio is presently -207.69%.

Analyst Upgrades and Downgrades

PSEC has been the subject of several research reports. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company cut their price target on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Friday, August 30th.

Institutional Trading of Prospect Capital

A number of hedge funds have recently bought and sold shares of PSEC. Y.D. More Investments Ltd increased its position in shares of Prospect Capital by 303.6% in the second quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock worth $29,064,000 after acquiring an additional 3,808,560 shares in the last quarter. Van ECK Associates Corp grew its position 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 worth $47,376,000 after purchasing an additional 1,690,290 shares in the last quarter. International Assets Investment Management LLC raised its stake in Prospect Capital by 344.0% during 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 purchasing an additional 722,925 shares during the period. XML Financial LLC lifted its holdings in shares of Prospect Capital by 29.1% in the first quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock valued at $9,455,000 after purchasing an additional 386,266 shares in the last quarter. Finally, TrueMark Investments LLC purchased a new stake in shares of Prospect Capital in the second quarter valued at $2,107,000. 9.06% of the stock is owned by hedge funds and other institutional investors.

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.