M Grier Eliasek Buys 210,000 Shares of Prospect Capital Co. (NASDAQ:PSEC) Stock

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek bought 210,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was 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 in the company, valued at approximately $10,250,735.30. This represents a 10.93 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 shares were purchased at an average price of $4.72 per share, with a total value of $23,600.00.
• On Friday, November 22nd, M Grier Eliasek purchased 5,000 shares of Prospect Capital stock. The shares were purchased at an average price of $4.72 per share, with a total value of $23,600.00.
• On Wednesday, November 20th, M Grier Eliasek purchased 5,000 shares of Prospect Capital stock. The shares were 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, with a total value of $22,300.00.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $4.58 on Thursday. 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 52 week low of $4.15 and a 52 week high of $6.30. The stock has a market capitalization of $2.00 billion, a PE ratio of -17.62 and a beta of 0.97. The firm has a 50 day moving average of $5.00 and a two-hundred day moving average of $5.26.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, beating the consensus estimate 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 declared a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be given a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, January 29th. This represents a $0.54 annualized dividend and a yield of 11.79%. Prospect Capital’s dividend payout ratio is presently -207.69%.

Analyst Ratings Changes

Several analysts recently weighed in on PSEC shares. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th. Wells Fargo & Company dropped their target price 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 Investors Weigh In On Prospect Capital

Several institutional investors have recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC lifted its position in shares of Prospect Capital by 7.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 29,260 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 2,010 shares during the last quarter. Strategies Wealth Advisors LLC lifted its position in shares of Prospect Capital by 7.2% during the 3rd quarter. Strategies Wealth Advisors LLC now owns 33,957 shares of the financial services provider’s stock worth $182,000 after purchasing an additional 2,277 shares during the last quarter. Moloney Securities Asset Management LLC lifted its position in shares of Prospect Capital by 4.7% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 63,802 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 2,875 shares during the last quarter. IFG Advisory LLC lifted its position in shares of Prospect Capital by 9.0% during the 2nd quarter. IFG Advisory LLC now owns 36,195 shares of the financial services provider’s stock worth $200,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Prospect Capital by 34.9% during the 3rd 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 last quarter. 9.06% of the stock is owned by hedge funds and other institutional investors.

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.