Prospect Capital (NASDAQ:PSEC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, January 17th. The brokerage currently has a $7.75 price target on the financial services provider’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.48% from the stock’s current price.
According to Zacks, “Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments. “
A number of other research firms have also issued reports on PSEC. ValuEngine raised shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. BidaskClub raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 22nd. TheStreet lowered shares of Prospect Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. BMO Capital Markets reduced their price target 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. Finally, National Securities reduced their price target on shares of Prospect Capital from $6.00 to $5.00 and set a “sell” rating for the company in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.81.
Prospect Capital (NASDAQ:PSEC) traded up $0.27 during mid-day trading on Wednesday, reaching $6.77. 4,592,377 shares of the company were exchanged, compared to its average volume of 2,570,000. The firm has a market cap of $2,440.00, a PE ratio of 11.88 and a beta of 0.48. The company has a quick ratio of 2.63, a current ratio of 4.32 and a debt-to-equity ratio of 0.73. Prospect Capital has a one year low of $5.51 and a one year high of $9.58.
Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, February 7th. The financial services provider reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The company had revenue of $162.40 million during the quarter, compared to analysts’ expectations of $153.94 million. Prospect Capital had a net margin of 31.02% and a return on equity of 8.36%. Prospect Capital’s revenue for the quarter was down 11.5% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. sell-side analysts anticipate that Prospect Capital will post 0.72 earnings per share for the current year.
In other news, insider John F. Barry bought 993,900 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was purchased at an average cost of $7.21 per share, with a total value of $7,166,019.00. Following the acquisition, the insider now directly owns 32,187,564 shares in the company, valued at $232,072,336.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO M Grier Eliasek purchased 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was bought at an average cost of $6.89 per share, with a total value of $68,900.00. Following the acquisition, the chief operating officer now owns 1,003,990 shares in the company, valued at approximately $6,917,491.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,504,521 shares of company stock valued at $31,215,551. Insiders own 7.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Suntrust Banks Inc. increased its holdings in Prospect Capital by 9.5% in the 4th quarter. Suntrust Banks Inc. now owns 88,800 shares of the financial services provider’s stock worth $598,000 after acquiring an additional 7,679 shares in the last quarter. Timber Hill LLC purchased a new stake in Prospect Capital in the 4th quarter worth $161,000. Alpha Cubed Investments LLC purchased a new stake in Prospect Capital in the 4th quarter worth $153,000. Wedbush Securities Inc. boosted its stake in Prospect Capital by 45.2% during the 4th quarter. Wedbush Securities Inc. now owns 106,235 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 33,083 shares during the last quarter. Finally, Virtu Financial LLC boosted its stake in Prospect Capital by 302.9% during the 4th quarter. Virtu Financial LLC now owns 294,330 shares of the financial services provider’s stock worth $1,984,000 after purchasing an additional 221,274 shares during the last quarter. 14.76% of the stock is owned by institutional investors.
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Prospect Capital Company Profile
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.
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