Insider Buying: Prospect Capital Corporation (NASDAQ:PSEC) Insider Buys 10,000 Shares of Stock

Prospect Capital Corporation (NASDAQ:PSEC) insider M Grier Eliasek acquired 10,000 shares of the business’s stock in a transaction on Friday, December 15th. The stock was purchased at an average price of $6.77 per share, for a total transaction of $67,700.00. Following the acquisition, the insider now directly owns 1,152,196 shares in the company, valued at $7,800,366.92. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Friday, December 22nd, M Grier Eliasek acquired 10,000 shares of Prospect Capital stock. The stock was purchased at an average price of $7.19 per share, for a total transaction of $71,900.00.
  • On Wednesday, December 20th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.94 per share, for a total transaction of $69,400.00.
  • On Monday, December 18th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.92 per share, for a total transaction of $69,200.00.
  • On Wednesday, December 13th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.82 per share, for a total transaction of $68,200.00.
  • On Monday, December 11th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.75 per share, for a total transaction of $67,500.00.
  • On Friday, December 8th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.73 per share, for a total transaction of $67,300.00.
  • On Wednesday, December 6th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.69 per share, for a total transaction of $66,900.00.
  • On Monday, December 4th, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.85 per share, for a total transaction of $68,500.00.
  • On Friday, December 1st, M Grier Eliasek bought 10,000 shares of Prospect Capital stock. The stock was bought at an average price of $6.85 per share, for a total transaction of $68,500.00.
  • On Wednesday, November 29th, M Grier Eliasek acquired 10,000 shares of Prospect Capital stock. The shares were acquired at an average price of $6.77 per share, for a total transaction of $67,700.00.

Prospect Capital Corporation (NASDAQ PSEC) opened at $6.85 on Friday. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78. The stock has a market cap of $2,470.00, a P/E ratio of 13.43 and a beta of 0.56. Prospect Capital Corporation has a 1-year low of $5.51 and a 1-year high of $9.58.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $158.58 million for the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.22 earnings per share. analysts anticipate that Prospect Capital Corporation will post 0.72 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be given a $0.06 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 annualized dividend and a dividend yield of 10.51%. Prospect Capital’s dividend payout ratio (DPR) is presently 141.18%.

Large investors have recently modified their holdings of the stock. Americafirst Capital Management LLC purchased a new stake in Prospect Capital in the 2nd quarter worth approximately $378,000. Legal & General Group Plc lifted its position in Prospect Capital by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock worth $7,816,000 after buying an additional 112,354 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Prospect Capital in the 2nd quarter worth approximately $7,697,000. California Public Employees Retirement System lifted its position in Prospect Capital by 2.7% in the 2nd quarter. California Public Employees Retirement System now owns 767,000 shares of the financial services provider’s stock worth $6,228,000 after buying an additional 20,100 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in Prospect Capital by 112.0% in the 2nd quarter. CIBC World Markets Inc. now owns 143,547 shares of the financial services provider’s stock worth $1,166,000 after buying an additional 75,839 shares in the last quarter. Institutional investors and hedge funds own 15.60% of the company’s stock.

PSEC has been the topic of several research reports. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. BidaskClub upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. TheStreet cut shares of Prospect Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, BMO Capital Markets decreased their target price on shares of Prospect Capital from $7.00 to $6.00 and set a “market perform” rating for the company in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $6.50.

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About Prospect Capital

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

Insider Buying and Selling by Quarter for Prospect Capital (NASDAQ:PSEC)

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