Prospect Capital (NASDAQ:PSEC) COO Buys $1,002,700.00 in Stock

Prospect Capital Corporation (NASDAQ:PSEC) COO M Grier Eliasek bought 370,000 shares of the stock in a transaction on Thursday, September 25th. The shares were acquired at an average cost of $2.71 per share, for a total transaction of $1,002,700.00. Following the acquisition, the chief operating officer directly owned 2,501,130 shares in the company, valued at approximately $6,778,062.30. This trade represents a 17.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Prospect Capital Trading Up 0.4%

Shares of PSEC stock opened at $2.76 on Thursday. The company’s fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $3.31. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 1.16. Prospect Capital Corporation has a 1 year low of $2.57 and a 1 year high of $5.41. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -2.06 and a beta of 0.86.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Tuesday, August 26th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. Prospect Capital had a negative net margin of 69.68% and a positive return on equity of 12.14%. The business had revenue of $166.95 million for the quarter, compared to analysts’ expectations of $167.08 million.

Prospect Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, November 18th. Stockholders of record on Wednesday, October 29th will be issued a $0.045 dividend. The ex-dividend date of this dividend is Wednesday, October 29th. This represents a c) annualized dividend and a dividend yield of 19.6%. Prospect Capital’s dividend payout ratio is presently -40.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its holdings in Prospect Capital by 38.5% in the second quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock worth $37,000 after buying an additional 3,238 shares during the period. Raymond James Financial Inc. lifted its holdings in Prospect Capital by 0.5% in the second quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock worth $2,685,000 after buying an additional 3,880 shares during the period. Inspire Advisors LLC lifted its holdings in Prospect Capital by 17.1% in the second quarter. Inspire Advisors LLC now owns 27,432 shares of the financial services provider’s stock worth $87,000 after buying an additional 4,015 shares during the period. D.A. Davidson & CO. lifted its holdings in Prospect Capital by 1.2% in the first quarter. D.A. Davidson & CO. now owns 346,881 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 4,050 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Prospect Capital by 1.9% in the second quarter. Cetera Investment Advisers now owns 262,719 shares of the financial services provider’s stock worth $835,000 after buying an additional 4,978 shares during the period. Institutional investors own 9.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSEC. Wells Fargo & Company decreased their price target on shares of Prospect Capital from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Thursday, August 28th. Wall Street Zen raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $2.50.

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.