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 business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $4.65 per share, with a total value of $23,250.00. Following the transaction, the chief operating officer now directly owns 1,691,130 shares in the company, valued at $7,863,754.50. This trade represents a 0.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 Price Performance

NASDAQ PSEC opened at $4.83 on Friday. The stock’s 50 day simple moving average is $5.10 and its 200 day simple moving average is $5.30. Prospect Capital Co. has a one year low of $4.15 and a one year high of $6.30. 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 (NASDAQ:PSEC) last announced its earnings results on Friday, November 8th. The financial services provider reported $0.21 EPS for the quarter, topping the consensus estimate 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 Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Wednesday, January 29th will be paid a $0.045 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 11.18%. The ex-dividend date is Wednesday, January 29th. Prospect Capital’s dividend payout ratio is presently -276.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PSEC shares. StockNews.com downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 30th. Wells Fargo & Company reduced their price target on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th.

Hedge Funds Weigh In On Prospect Capital

A number of large investors have recently modified their holdings of PSEC. Y.D. More Investments Ltd boosted its holdings in Prospect Capital by 303.6% in the second quarter. Y.D. More Investments Ltd now owns 5,062,879 shares of the financial services provider’s stock valued at $29,064,000 after acquiring an additional 3,808,560 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Prospect Capital by 23.3% in 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 last quarter. International Assets Investment Management LLC grew its position in shares of 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 worth $4,992,000 after buying an additional 722,925 shares during the period. XML Financial LLC raised its stake in shares of Prospect Capital by 29.1% during the first quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock worth $9,455,000 after buying an additional 386,266 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new position in Prospect Capital in the second quarter valued at approximately $2,107,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

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.