M Grier Eliasek Purchases 942,800 Shares of Prospect Capital (NASDAQ:PSEC) Stock

Prospect Capital Corporation (NASDAQ:PSEC) COO M Grier Eliasek purchased 942,800 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was bought at an average cost of $2.92 per share, with a total value of $2,752,976.00. Following the purchase, the chief operating officer owned 3,443,930 shares of the company’s stock, valued at $10,056,275.60. This represents a 37.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $3.05 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.74 and a quick ratio of 1.22. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -3.77 and a beta of 0.90. Prospect Capital Corporation has a one year low of $2.45 and a one year high of $4.47. The firm has a 50 day simple moving average of $2.70 and a 200 day simple moving average of $2.74.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.09. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.The company had revenue of $176.00 million during the quarter, compared to the consensus estimate of $156.34 million.

Prospect Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, April 28th will be issued a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a c) annualized dividend and a yield of 17.7%. Prospect Capital’s payout ratio is presently -66.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Prospect Capital currently has a consensus rating of “Sell” and an average price target of $2.50.

Hedge Funds Weigh In On Prospect Capital

A number of institutional investors and hedge funds have recently made changes to their positions in PSEC. CANADA LIFE ASSURANCE Co increased its position in Prospect Capital by 4.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 409,227 shares of the financial services provider’s stock valued at $1,065,000 after buying an additional 15,629 shares in the last quarter. Gendell Jeffrey L increased its holdings in shares of Prospect Capital by 17.8% during the fourth quarter. Gendell Jeffrey L now owns 3,728,319 shares of the financial services provider’s stock valued at $9,656,000 after acquiring an additional 562,104 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Prospect Capital by 307.1% during the fourth quarter. Headlands Technologies LLC now owns 74,777 shares of the financial services provider’s stock worth $194,000 after purchasing an additional 56,410 shares during the period. Concorde Asset Management LLC lifted its holdings in shares of Prospect Capital by 40.1% in the 4th quarter. Concorde Asset Management LLC now owns 304,280 shares of the financial services provider’s stock worth $788,000 after purchasing an additional 87,130 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its position in Prospect Capital by 8.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 663,035 shares of the financial services provider’s stock valued at $1,717,000 after purchasing an additional 52,520 shares during the period. Institutional investors own 9.06% of the company’s stock.

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.