M Grier Eliasek Buys 5,000 Shares of Prospect Capital Co. (NASDAQ:PSEC) Stock

Prospect Capital Co. (NASDAQ:PSEC) COO M Grier Eliasek bought 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were purchased at an average cost of $4.46 per share, with a total value of $22,300.00. Following the purchase, the chief operating officer now directly owns 1,681,130 shares of the company’s stock, valued at approximately $7,497,839.80. This represents a 0.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Prospect Capital Stock Down 1.1 %

Shares of PSEC traded down $0.05 on Wednesday, hitting $4.59. 3,712,159 shares of the stock traded hands, compared to its average volume of 2,355,075. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 0.48. Prospect Capital Co. has a one year low of $4.15 and a one year high of $6.30. The business has a 50 day simple moving average of $5.15 and a 200 day simple moving average of $5.31. The company has a market capitalization of $2.00 billion, a PE ratio of -17.85 and a beta of 1.00.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $196.31 million during 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 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 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 11.76%. Prospect Capital’s dividend payout ratio is presently -276.92%.

Analyst Ratings Changes

Several research firms recently commented on PSEC. Wells Fargo & Company cut their target price on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Friday, August 30th. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th.

Hedge Funds Weigh In On Prospect Capital

Hedge funds have recently made changes to their positions in the stock. Rothschild Investment LLC purchased a new stake in Prospect Capital during the second quarter worth about $27,000. MWA Asset Management acquired a new position in Prospect Capital during the 3rd quarter valued at about $53,000. Global Assets Advisory LLC acquired a new position in shares of Prospect Capital in the 3rd quarter worth approximately $64,000. Family Wealth Partners LLC acquired a new position in shares of Prospect Capital in the third quarter worth about $74,000. Finally, Captrust Financial Advisors lifted its stake 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 acquiring an additional 3,686 shares during the last quarter. Hedge funds and other institutional investors own 9.06% of the company’s stock.

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.