Insider Buying: Prospect Capital Corporation (PSEC) Insider Buys $69,400.00 in Stock

Prospect Capital Corporation (NASDAQ:PSEC) insider M Grier Eliasek purchased 10,000 shares of the company’s stock in a transaction on Wednesday, December 20th. The shares were purchased at an average price of $6.94 per share, for a total transaction of $69,400.00. Following the purchase, the insider now owns 1,182,196 shares in the company, valued at approximately $8,204,440.24. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, December 18th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.92 per share, for a total transaction of $69,200.00.
  • On Friday, December 15th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.77 per share, for a total transaction of $67,700.00.
  • On Wednesday, December 13th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.82 per share, for a total transaction of $68,200.00.
  • On Monday, December 11th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.75 per share, for a total transaction of $67,500.00.
  • On Friday, December 8th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.73 per share, for a total transaction of $67,300.00.
  • On Wednesday, December 6th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.69 per share, for a total transaction of $66,900.00.
  • On Monday, December 4th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.85 per share, for a total transaction of $68,500.00.
  • On Friday, December 1st, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.85 per share, for a total transaction of $68,500.00.
  • On Wednesday, November 29th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.77 per share, for a total transaction of $67,700.00.
  • On Monday, November 27th, M Grier Eliasek purchased 10,000 shares of Prospect Capital stock. The shares were purchased at an average price of $6.89 per share, for a total transaction of $68,900.00.

Prospect Capital Corporation (NASDAQ PSEC) opened at $7.26 on Monday. The stock has a market capitalization of $2,620.00, a PE ratio of 14.24 and a beta of 0.55. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital Corporation has a fifty-two week low of $5.51 and a fifty-two week high of $9.58.

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

The firm also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be issued a $0.06 dividend. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a yield of 9.92%. Prospect Capital’s payout ratio is 141.18%.

PSEC has been the topic of several research analyst reports. National Securities dropped their price target on Prospect Capital from $6.00 to $5.00 and set a “sell” rating on the stock in a research note on Thursday, October 12th. Raymond James Financial raised Prospect Capital from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. UBS Group raised Prospect Capital from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Zacks Investment Research cut Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 11th. Finally, ValuEngine raised Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Prospect Capital presently has a consensus rating of “Hold” and a consensus price target of $6.17.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSEC. Trexquant Investment LP acquired a new position in Prospect Capital in the 3rd quarter worth about $108,000. Jane Street Group LLC acquired a new position in Prospect Capital in the 3rd quarter worth about $127,000. Regal Investment Advisors LLC raised its holdings in Prospect Capital by 19.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after purchasing an additional 2,720 shares during the period. Advisory Services Network LLC raised its holdings in Prospect Capital by 0.6% in the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 105 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Prospect Capital by 8.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock worth $160,000 after purchasing an additional 1,507 shares during the period. 15.60% of the stock is owned by institutional investors.

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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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