Prospect Capital (NASDAQ:PSEC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
Several other research firms also recently commented on PSEC. ValuEngine upgraded Prospect Capital from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded Prospect Capital from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a report on Wednesday, January 17th. National Securities reiterated a “sell” rating and issued a $4.00 price objective on shares of Prospect Capital in a report on Monday, February 12th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $7.00 price objective on shares of Prospect Capital in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.81.
Prospect Capital (NASDAQ PSEC) opened at $6.51 on Wednesday. The company has a market capitalization of $2,353.54, a PE ratio of 8.45 and a beta of 0.42. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.73. Prospect Capital has a twelve month low of $5.51 and a twelve month high of $9.45.
Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $162.40 million for the quarter, compared to the consensus estimate of $153.94 million. Prospect Capital had a return on equity of 8.36% and a net margin of 31.02%. The company’s quarterly revenue was down 11.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 earnings per share. research analysts expect that Prospect Capital will post 0.74 EPS for the current year.
In other Prospect Capital news, CEO John F. Barry purchased 408,207 shares of Prospect Capital stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average price of $6.87 per share, for a total transaction of $2,804,382.09. Following the acquisition, the chief executive officer now directly owns 29,870,847 shares in the company, valued at $205,212,718.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John F. Barry purchased 17,200 shares of Prospect Capital stock in a transaction that occurred on Friday, March 2nd. The shares were acquired at an average price of $6.50 per share, for a total transaction of $111,800.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 2,414,161 shares of company stock worth $16,799,151. 7.10% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the stock. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Prospect Capital during the 4th quarter valued at about $2,544,000. Eqis Capital Management Inc. increased its holdings in Prospect Capital by 266.2% during the 4th quarter. Eqis Capital Management Inc. now owns 438,826 shares of the financial services provider’s stock valued at $2,958,000 after purchasing an additional 319,001 shares during the period. Virtu Financial LLC increased its holdings 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 valued at $1,984,000 after purchasing an additional 221,274 shares during the period. GSA Capital Partners LLP increased its holdings in Prospect Capital by 277.0% during the 3rd quarter. GSA Capital Partners LLP now owns 149,438 shares of the financial services provider’s stock valued at $1,004,000 after purchasing an additional 109,803 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Prospect Capital by 5.4% during the 3rd quarter. California Public Employees Retirement System now owns 808,100 shares of the financial services provider’s stock valued at $5,430,000 after purchasing an additional 41,100 shares during the period. Institutional investors own 14.33% of the company’s stock.
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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.
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