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

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek purchased 5,000 shares of the stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $4.72 per share, for a total transaction of $23,600.00. Following the acquisition, the chief operating officer now directly owns 1,701,130 shares in the company, valued at approximately $8,029,333.60. This trade represents a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 20th, M Grier Eliasek purchased 5,000 shares of Prospect Capital stock. The stock was acquired 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 acquired at an average cost of $4.46 per share, for a total transaction of $22,300.00.

Prospect Capital Trading Down 0.5 %

PSEC opened at $4.74 on Wednesday. The firm’s 50-day simple moving average is $5.09 and its 200-day simple moving average is $5.30. 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 Co. has a twelve month low of $4.15 and a twelve month 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, topping the consensus estimate of $0.17 by $0.04. The business had revenue of $196.31 million for 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 given a dividend of $0.045 per share. The ex-dividend date is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.39%. Prospect Capital’s dividend payout ratio (DPR) is -276.92%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSEC. Rothschild Investment LLC acquired a new position in Prospect Capital during the 2nd quarter worth about $27,000. MWA Asset Management acquired a new position in Prospect Capital during the 3rd quarter valued at about $53,000. Global Assets Advisory LLC acquired a new position in Prospect Capital during the 3rd quarter valued at about $64,000. Family Wealth Partners LLC acquired a new position in Prospect Capital during the 3rd quarter valued at about $74,000. Finally, Captrust Financial Advisors lifted its position in Prospect Capital by 34.9% during the 3rd quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 3,686 shares during the period. Institutional investors and hedge funds own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PSEC shares. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company lowered 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.

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.