Key Points
- COO M. Grier Eliasek bought 942,800 shares at an average $2.92 on Feb. 11 (≈$2.75M), raising his direct holding to 3,443,930 shares — a 37.69% increase in his position.
- The company declared a monthly dividend of $0.045 (ex-dividend Apr. 28, payable May 19), implying a 17.7% annualized yield.
- Prospect beat Q results with $0.19 EPS vs $0.10 est. and $176M revenue vs $156M est., but analysts still assign a consensus Sell rating with a $2.50 target while the stock trades around $3.05.
Prospect Capital Corporation (NASDAQ:PSEC - Get Free Report) COO M Grier Eliasek bought 942,800 shares of the business's stock in a transaction on Wednesday, February 11th. The stock was bought at an average cost of $2.92 per share, for a total transaction of $2,752,976.00. Following the purchase, the chief operating officer directly owned 3,443,930 shares of the company's stock, valued at approximately $10,056,275.60. This trade represents a 37.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Prospect Capital Stock Up 5.5%
Shares of NASDAQ PSEC opened at $3.05 on Friday. Prospect Capital Corporation has a 52-week low of $2.45 and a 52-week high of $4.47. The stock has a market cap of $1.47 billion, a P/E ratio of -3.77 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.22 and a current ratio of 0.74. The firm has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.75.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last issued its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 EPS for the quarter, topping 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 business had revenue of $176.00 million for the quarter, compared to the consensus estimate of $156.34 million.
Prospect Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, April 28th will be issued a $0.045 dividend. This represents a c) annualized dividend and a dividend yield of 17.7%. The ex-dividend date is Tuesday, April 28th. Prospect Capital's dividend payout ratio is -66.67%.
Institutional Investors Weigh In On Prospect Capital
Institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its stake in Prospect Capital by 29.3% in the first quarter. Goldman Sachs Group Inc. now owns 393,034 shares of the financial services provider's stock valued at $1,611,000 after acquiring an additional 89,139 shares during the last quarter. Empowered Funds LLC raised its stake in Prospect Capital by 140.0% in the first quarter. Empowered Funds LLC now owns 88,397 shares of the financial services provider's stock valued at $362,000 after buying an additional 51,562 shares during the period. Blair William & Co. IL lifted its position in shares of Prospect Capital by 17.3% in the second quarter. Blair William & Co. IL now owns 53,473 shares of the financial services provider's stock valued at $170,000 after buying an additional 7,873 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of Prospect Capital by 2,609.2% during the 2nd quarter. IFP Advisors Inc now owns 20,319 shares of the financial services provider's stock worth $65,000 after acquiring an additional 19,569 shares during the period. Finally, CWM LLC increased its holdings in shares of Prospect Capital by 2,528.4% during the 2nd quarter. CWM LLC now owns 18,241 shares of the financial services provider's stock worth $58,000 after acquiring an additional 17,547 shares during the last quarter. Institutional investors own 9.06% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the stock. Wall Street Zen cut shares of Prospect Capital from a "buy" rating to a "hold" rating in a research report on Saturday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Prospect Capital in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Prospect Capital presently has a consensus rating of "Sell" and a consensus price target of $2.50.
Get Our Latest Stock Analysis on Prospect Capital
Prospect Capital Company Profile
(
Get Free Report)
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.
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