Prospect Capital (NASDAQ:PSEC) Price Target Cut to $3.50 by Analysts at Wells Fargo & Company

Prospect Capital (NASDAQ:PSEC - Get Free Report) had its price objective lowered by research analysts at Wells Fargo & Company from $4.00 to $3.50 in a report released on Monday,Benzinga reports. The brokerage currently has an "underweight" rating on the financial services provider's stock. Wells Fargo & Company's price target suggests a potential downside of 2.78% from the company's previous close.

Separately, StockNews.com upgraded shares of Prospect Capital from a "sell" rating to a "hold" rating in a report on Saturday, April 12th.

Prospect Capital Trading Up 1.7 %

Prospect Capital stock traded up $0.06 during mid-day trading on Monday, hitting $3.60. The company's stock had a trading volume of 2,109,341 shares, compared to its average volume of 2,786,933. Prospect Capital has a one year low of $3.39 and a one year high of $5.72. The stock has a market cap of $1.60 billion, a PE ratio of -18.00 and a beta of 0.85. The company has a 50 day moving average of $3.94 and a 200-day moving average of $4.34. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.76 and a current ratio of 0.76.

Insider Transactions at Prospect Capital

In other Prospect Capital news, Director William Gremp acquired 19,100 shares of the company's stock in a transaction dated Tuesday, March 18th. The shares were purchased at an average cost of $4.29 per share, for a total transaction of $81,939.00. Following the completion of the purchase, the director now owns 75,153 shares in the company, valued at approximately $322,406.37. This trade represents a 34.07 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John F. Barry acquired 24,000 shares of Prospect Capital stock in a transaction that occurred on Monday, March 24th. The stock was acquired at an average cost of $4.24 per share, with a total value of $101,760.00. Following the purchase, the chief executive officer now directly owns 82,594,540 shares of the company's stock, valued at $350,200,849.60. This represents a 0.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,548,000 shares of company stock valued at $10,970,715. 28.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kovack Advisors Inc. grew its stake in Prospect Capital by 1.9% in the fourth quarter. Kovack Advisors Inc. now owns 145,095 shares of the financial services provider's stock valued at $625,000 after purchasing an additional 2,732 shares during the last quarter. Modern Wealth Management LLC grew its position in shares of Prospect Capital by 9.3% in the 4th quarter. Modern Wealth Management LLC now owns 32,566 shares of the financial services provider's stock worth $136,000 after buying an additional 2,774 shares during the last quarter. Cutter & CO Brokerage Inc. raised its stake in shares of Prospect Capital by 27.8% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 15,940 shares of the financial services provider's stock worth $69,000 after acquiring an additional 3,467 shares in the last quarter. Global Assets Advisory LLC lifted its position in Prospect Capital by 33.4% during the fourth quarter. Global Assets Advisory LLC now owns 15,998 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 4,006 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in Prospect Capital by 1.2% in the first quarter. D.A. Davidson & CO. now owns 346,881 shares of the financial services provider's stock valued at $1,422,000 after acquiring an additional 4,050 shares in the last quarter. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

About Prospect Capital

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.