Insider Buying: Prospect Capital Co. (NASDAQ:PSEC) COO Buys $23,600.00 in Stock

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were purchased at an average price of $4.72 per share, with a total value of $23,600.00. Following the acquisition, the chief operating officer now directly owns 1,711,130 shares in the company, valued at approximately $8,076,533.60. The trade was a 0.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

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

Prospect Capital Stock Performance

NASDAQ PSEC opened at $4.78 on Monday. The company has a market cap of $2.08 billion, a P/E ratio of -18.38 and a beta of 1.00. Prospect Capital Co. has a 1-year low of $4.15 and a 1-year high of $6.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a 50-day moving average of $5.03 and a two-hundred day moving average of $5.28.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping 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 firm had revenue of $196.31 million for the quarter.

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Investors of record on Wednesday, January 29th will be paid 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 11.30%. Prospect Capital’s payout ratio is -207.69%.

Institutional Investors Weigh In On Prospect Capital

A number of hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new stake in shares of Prospect Capital during the second quarter worth approximately $27,000. MWA Asset Management purchased a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $53,000. Global Assets Advisory LLC purchased a new stake in shares of Prospect Capital during the 3rd quarter worth $64,000. Family Wealth Partners LLC acquired a new position in shares of Prospect Capital during the third quarter worth $74,000. Finally, Captrust Financial Advisors increased its holdings in Prospect Capital by 34.9% in the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after buying an additional 3,686 shares during the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSEC. StockNews.com lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company decreased their price target on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note 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.