Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) COO Buys $23,250.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek bought 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was purchased at an average price of $4.65 per share, with a total value of $23,250.00. Following the completion of the transaction, the chief operating officer now directly owns 1,691,130 shares of the company’s stock, valued at $7,863,754.50. This trade represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, November 18th, M Grier Eliasek bought 5,000 shares of Prospect Capital stock. The stock was purchased at an average price of $4.46 per share, with a total value of $22,300.00.

Prospect Capital Stock Performance

NASDAQ PSEC opened at $4.83 on Monday. Prospect Capital Co. has a 1 year low of $4.15 and a 1 year high of $6.30. The business’s fifty day moving average is $5.10 and its two-hundred day 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 (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, beating the consensus estimate of $0.17 by $0.04. The company 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 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 $0.045 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a dividend yield of 11.18%. Prospect Capital’s dividend payout ratio is currently -276.92%.

Institutional Trading of Prospect Capital

Large investors have recently added to or reduced their stakes in the company. XML Financial LLC raised its stake in Prospect Capital by 8.1% during 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 purchasing an additional 153,180 shares during the period. OLD National Bancorp IN acquired a new stake in Prospect Capital during the 2nd quarter valued at $137,000. Van ECK Associates Corp raised its stake 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 valued at $47,376,000 after purchasing an additional 1,690,290 shares during the period. Creative Planning raised its stake in Prospect Capital by 387.3% during the 2nd quarter. Creative Planning now owns 175,953 shares of the financial services provider’s stock valued at $973,000 after purchasing an additional 139,842 shares during the period. Finally, 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. 9.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in 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 target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a 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.