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 business’s stock in a transaction on Wednesday, November 20th. The shares were acquired at an average cost of $4.65 per share, with a total value of $23,250.00. Following the acquisition, the chief operating officer now directly owns 1,691,130 shares in the company, valued at approximately $7,863,754.50. The trade was a 0.30 % 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 Monday, November 18th, M Grier Eliasek acquired 5,000 shares of Prospect Capital stock. The stock was bought at an average cost of $4.46 per share, for a total transaction of $22,300.00.

Prospect Capital Price Performance

Shares of PSEC traded up $0.18 during trading hours on Friday, hitting $4.83. 4,634,588 shares of the company were exchanged, compared to its average volume of 2,372,933. The company has a market cap of $2.11 billion, a price-to-earnings ratio of -18.58 and a beta of 1.00. The firm’s fifty day moving average is $5.12 and its 200 day moving average is $5.30. Prospect Capital Co. has a fifty-two week low of $4.15 and a fifty-two week 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 issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Prospect Capital had a negative net margin of 2.23% and a positive return on equity of 12.19%. The company had revenue of $196.31 million during the quarter.

Prospect Capital Announces Dividend

The firm also recently disclosed 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 11.18%. The ex-dividend date of this dividend is Wednesday, January 29th. Prospect Capital’s dividend payout ratio (DPR) is presently -207.69%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Virtu Financial LLC grew its position 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 last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Prospect Capital in the third quarter valued at approximately $1,199,000. XTX Topco Ltd bought a new position in Prospect Capital in the 3rd quarter valued at approximately $88,000. Paloma Partners Management Co bought a new position in shares of Prospect Capital during the third quarter valued at $578,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Prospect Capital by 34.9% during the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock worth $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 Analyst Weigh In

Several research firms have weighed in on PSEC. StockNews.com cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company decreased their price objective on 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.