Prospect Capital (NASDAQ:PSEC) COO M Grier Eliasek Acquires 942,800 Shares

Prospect Capital Corporation (NASDAQ:PSEC) COO M Grier Eliasek bought 942,800 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were acquired at an average price of $2.92 per share, for a total transaction of $2,752,976.00. Following the completion of the transaction, the chief operating officer owned 3,443,930 shares in the company, valued at $10,056,275.60. This represents a 37.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Prospect Capital Stock Down 0.3%

Shares of PSEC opened at $2.89 on Friday. The company has a quick ratio of 1.22, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $2.70 and a two-hundred day moving average price of $2.75. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -3.57 and a beta of 0.90. Prospect Capital Corporation has a 12 month low of $2.45 and a 12 month high of $4.47.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The business had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $156.34 million. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.

Prospect Capital Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, April 28th will be paid a $0.045 dividend. This represents a c) annualized dividend and a dividend yield of 18.7%. The ex-dividend date is Tuesday, April 28th. Prospect Capital’s payout ratio is currently -66.67%.

Analysts Set New Price Targets

A number of equities analysts have commented on PSEC shares. Weiss Ratings restated a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Wall Street Zen upgraded Prospect Capital from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Prospect Capital currently has an average rating of “Sell” and an average target price of $2.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Catalyst Financial Partners LLC acquired a new stake in shares of Prospect Capital during the 4th quarter worth approximately $26,000. Bfsg LLC acquired a new stake in Prospect Capital during the 4th quarter worth $27,000. Navalign LLC acquired a new stake in Prospect Capital during the 3rd quarter worth $28,000. Ground Swell Capital LLC bought a new stake in shares of Prospect Capital during the 4th quarter valued at $28,000. Finally, Evergreen Capital Management LLC bought a new position in shares of Prospect Capital in the 4th quarter worth $30,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

About Prospect Capital

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.