BidaskClub upgraded shares of Prospect Capital (NASDAQ:PSEC) from a sell rating to a hold rating in a research report report published on Monday morning.
Several other analysts also recently weighed in on PSEC. National Securities restated a sell rating and set a $4.00 target price on shares of Prospect Capital in a research note on Monday. ValuEngine downgraded Prospect Capital from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded Prospect Capital from a buy rating to a hold rating in a research note on Saturday, January 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Prospect Capital currently has an average rating of Hold and a consensus target price of $6.17.
Shares of Prospect Capital opened at $6.62 on Monday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $2.40 billion, a PE ratio of 7.79 and a beta of 0.43. Prospect Capital has a 1-year low of $6.61 and a 1-year high of $6.66.
Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, May 9th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $162.84 million during the quarter, compared to the consensus estimate of $153.08 million. Prospect Capital had a return on equity of 8.31% and a net margin of 36.39%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. analysts predict that Prospect Capital will post 0.75 EPS for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Thursday, September 20th. Investors of record on Friday, August 31st will be paid a $0.06 dividend. The ex-dividend date is Thursday, August 30th. This represents a $0.72 dividend on an annualized basis and a yield of 10.88%. Prospect Capital’s dividend payout ratio (DPR) is 84.71%.
In other news, insider John F. Barry purchased 4,483 shares of the firm’s stock in a transaction that occurred on Wednesday, March 21st. The stock was acquired at an average cost of $6.50 per share, for a total transaction of $29,139.50. Following the completion of the purchase, the insider now owns 34,413,790 shares of the company’s stock, valued at $223,689,635. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John F. Barry purchased 48,117 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average price of $6.70 per share, with a total value of $322,383.90. Following the completion of the purchase, the insider now directly owns 33,671,688 shares of the company’s stock, valued at approximately $225,600,309.60. The disclosure for this purchase can be found here. Insiders purchased 487,692 shares of company stock valued at $3,213,776 over the last quarter. Insiders own 7.10% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. LSV Asset Management grew its stake in Prospect Capital by 150.0% in the first quarter. LSV Asset Management now owns 4,824,930 shares of the financial services provider’s stock worth $31,603,000 after purchasing an additional 2,895,138 shares in the last quarter. Two Sigma Investments LP grew its stake in Prospect Capital by 3,302.2% in the fourth quarter. Two Sigma Investments LP now owns 1,658,719 shares of the financial services provider’s stock worth $11,180,000 after purchasing an additional 1,609,964 shares in the last quarter. Mckinley Capital Management LLC Delaware grew its stake in Prospect Capital by 8.3% in the first quarter. Mckinley Capital Management LLC Delaware now owns 828,509 shares of the financial services provider’s stock worth $5,427,000 after purchasing an additional 63,457 shares in the last quarter. Quinn Opportunity Partners LLC acquired a new position in Prospect Capital in the fourth quarter worth about $4,508,000. Finally, Guggenheim Capital LLC lifted its holdings in Prospect Capital by 4.5% in the fourth quarter. Guggenheim Capital LLC now owns 613,633 shares of the financial services provider’s stock worth $4,136,000 after acquiring an additional 26,337 shares during the last quarter. Institutional investors and hedge funds own 14.10% of the company’s stock.
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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