Prospect Capital (NASDAQ:PSEC - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Friday.
Separately, Wells Fargo & Company increased their price objective on shares of Prospect Capital from $5.50 to $5.75 and gave the stock an "underweight" rating in a report on Monday, January 29th.
Get Our Latest Analysis on PSEC
Prospect Capital Price Performance
PSEC stock traded up $0.03 during trading on Friday, hitting $5.27. The stock had a trading volume of 2,394,604 shares, compared to its average volume of 2,072,857. The company's 50 day moving average price is $5.50 and its two-hundred day moving average price is $5.71. Prospect Capital has a 1-year low of $5.03 and a 1-year high of $6.84. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -26.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07.
Prospect Capital (NASDAQ:PSEC - Get Free Report) last announced its earnings results on Thursday, February 8th. The financial services provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The firm had revenue of $210.94 million during the quarter, compared to the consensus estimate of $226.14 million. On average, sell-side analysts forecast that Prospect Capital will post 0.82 EPS for the current fiscal year.
Insider Transactions at Prospect Capital
In related news, CFO Dask Kristin Lea Van acquired 5,000 shares of the business's stock in a transaction dated Monday, March 11th. The shares were acquired at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $54,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 26.69% of the company's stock.
Institutional Trading of Prospect Capital
A number of institutional investors and hedge funds have recently bought and sold shares of PSEC. DAVENPORT & Co LLC increased its position in Prospect Capital by 42.8% during the 3rd quarter. DAVENPORT & Co LLC now owns 30,006 shares of the financial services provider's stock worth $182,000 after purchasing an additional 9,000 shares in the last quarter. Sunesis Advisors LLC acquired a new stake in Prospect Capital in the third quarter valued at approximately $135,000. Bank of New York Mellon Corp grew its position in Prospect Capital by 17.6% in the third quarter. Bank of New York Mellon Corp now owns 78,172 shares of the financial services provider's stock valued at $473,000 after acquiring an additional 11,679 shares in the last quarter. Inspire Investing LLC acquired a new stake in Prospect Capital in the third quarter valued at approximately $307,000. Finally, Teamwork Financial Advisors LLC grew its position in Prospect Capital by 10.2% in the third quarter. Teamwork Financial Advisors LLC now owns 57,636 shares of the financial services provider's stock valued at $349,000 after acquiring an additional 5,318 shares in the last quarter. Institutional investors and hedge funds own 9.06% of the company's stock.
About Prospect Capital
(
Get Free Report)
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.
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