Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) COO Purchases 210,000 Shares of Stock

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek purchased 210,000 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were acquired at an average cost of $4.81 per share, for a total transaction of $1,010,100.00. Following the completion of the purchase, the chief operating officer now directly owns 2,131,130 shares of the company’s stock, valued at approximately $10,250,735.30. This represents a 10.93 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, November 26th, M Grier Eliasek purchased 5,000 shares of Prospect Capital stock. The stock was bought at an average price of $4.72 per share, for a total transaction of $23,600.00.
• On Friday, November 22nd, M Grier Eliasek purchased 5,000 shares of Prospect Capital stock. The stock was bought at an average cost 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 stock was acquired at an average cost of $4.65 per share, with a total value of $23,250.00.
• On Monday, November 18th, M Grier Eliasek acquired 5,000 shares of Prospect Capital stock. The shares were bought at an average price of $4.46 per share, with a total value of $22,300.00.

Prospect Capital Stock Performance

Shares of Prospect Capital stock traded down $0.03 on Tuesday, reaching $4.55. The company’s stock had a trading volume of 2,924,271 shares, compared to its average volume of 4,869,069. 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 stock has a 50-day moving average price of $5.02 and a 200-day moving average price of $5.27. Prospect Capital Co. has a 52-week low of $4.15 and a 52-week high of $6.30.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data 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 positive return on equity of 12.19% and a negative net margin of 2.23%. The company had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The business also recently declared 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 11.87%. Prospect Capital’s dividend payout ratio (DPR) is -207.69%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Y.D. More Investments Ltd lifted its position 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 acquiring an additional 3,808,560 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Prospect Capital by 23.3% during the third 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. International Assets Investment Management LLC grew its position in Prospect Capital by 344.0% during the third quarter. International Assets Investment Management LLC now owns 933,083 shares of the financial services provider’s stock valued at $4,992,000 after acquiring an additional 722,925 shares during the period. TrueMark Investments LLC acquired a new position in shares of Prospect Capital during the second quarter worth about $2,107,000. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Prospect Capital during the third quarter worth about $1,199,000. 9.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.