Prospect Capital Corp. COO Acquires $205,200 in Stock (PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) COO M Grier Eliasek acquired 20,000 shares of the company’s stock on the open market in a transaction dated Friday, August 29th. The shares were purchased at an average cost of $10.26 per share, for a total transaction of $205,200.00. Following the completion of the acquisition, the chief operating officer now directly owns 187,196 shares in the company, valued at approximately $1,920,631. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Prospect Capital Corp. (NASDAQ:PSEC) traded up 0.05% on Wednesday, hitting $10.32. The stock had a trading volume of 3,920,346 shares. Prospect Capital Corp. has a one year low of $9.17 and a one year high of $11.62. The stock has a 50-day moving average of $10. and a 200-day moving average of $10.61. Prospect Capital Corp. also was the target of a large growth in short interest in August. As of August 15th, there was short interest totalling 18,927,190 shares, a growth of 8.0% from the July 31st total of 17,529,426 shares. Approximately 5.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,071,071 shares, the days-to-cover ratio is presently 6.2 days.
Prospect Capital Corp. (NASDAQ:PSEC) last announced its earnings results on Monday, August 25th. The company reported $0.25 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.07. The company had revenue of $182.84 million for the quarter, compared to the consensus estimate of $213.74 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict that Prospect Capital Corp. will post $1.16 earnings per share for the current fiscal year.
PSEC has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Prospect Capital Corp. from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 28th. They now have a $9.80 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Prospect Capital Corp. from $11.00 to $10.00 in a research note on Wednesday, August 27th. They now have a “market perform” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Prospect Capital Corp. in a research note on Wednesday, August 27th. They now have a $11.50 price target on the stock, down previously from $12.25. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.16.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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