16,437 Shares in Prospect Capital Corporation $PSEC Bought by Elwood & Goetz Wealth Advisory Group LLC

Elwood & Goetz Wealth Advisory Group LLC acquired a new position in shares of Prospect Capital Corporation (NASDAQ:PSEC) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 16,437 shares of the financial services provider’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC acquired a new position in Prospect Capital during the second quarter worth $75,680,000. Oppenheimer & Co. Inc. acquired a new position in Prospect Capital during the first quarter worth $70,000. Caxton Associates LLP acquired a new position in Prospect Capital during the first quarter worth $1,517,000. Spire Wealth Management raised its holdings in shares of Prospect Capital by 22.0% in the first quarter. Spire Wealth Management now owns 112,389 shares of the financial services provider’s stock worth $461,000 after acquiring an additional 20,245 shares during the last quarter. Finally, Private Advisor Group LLC raised its holdings in shares of Prospect Capital by 48.0% in the first quarter. Private Advisor Group LLC now owns 589,686 shares of the financial services provider’s stock worth $2,418,000 after acquiring an additional 191,354 shares during the last quarter. 9.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Prospect Capital

In other news, COO M Grier Eliasek purchased 370,000 shares of the stock in a transaction on Thursday, September 25th. The stock was purchased at an average price of $2.71 per share, with a total value of $1,002,700.00. Following the completion of the transaction, the chief operating officer owned 2,501,130 shares in the company, valued at approximately $6,778,062.30. The trade was a 17.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John F. Barry purchased 925,000 shares of the stock in a transaction on Thursday, September 25th. The shares were purchased at an average cost of $2.72 per share, with a total value of $2,516,000.00. Following the transaction, the chief executive officer owned 86,067,158 shares of the company’s stock, valued at $234,102,669.76. This trade represents a 1.09% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 2,797,158 shares of company stock valued at $7,485,119. 27.98% of the stock is owned by company insiders.

Prospect Capital Stock Performance

Prospect Capital stock opened at $2.64 on Tuesday. The firm has a market capitalization of $1.23 billion, a P/E ratio of -1.97 and a beta of 0.85. The stock has a fifty day moving average price of $2.90 and a 200 day moving average price of $3.32. Prospect Capital Corporation has a 52 week low of $2.57 and a 52 week high of $5.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.70.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Tuesday, August 26th. The financial services provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $166.95 million during the quarter, compared to analyst estimates of $167.08 million. Prospect Capital had a positive return on equity of 12.14% and a negative net margin of 69.68%.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 18th. Investors of record on Wednesday, October 29th will be paid a $0.045 dividend. This represents a c) annualized dividend and a yield of 20.5%. The ex-dividend date is Wednesday, October 29th. Prospect Capital’s dividend payout ratio is presently -40.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their price target on Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Thursday, August 28th. Wall Street Zen raised Prospect Capital from a “sell” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell” and an average price target of $2.50.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.