BidaskClub lowered shares of Prospect Capital (NASDAQ:PSEC) from a hold rating to a sell rating in a research report report published on Wednesday morning.
A number of other brokerages have also recently weighed in on PSEC. ValuEngine upgraded Prospect Capital from a buy rating to a strong-buy rating in a research note 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 for the company in a research note on Wednesday, January 17th. National Securities restated a sell rating and set a $4.00 price objective on shares of Prospect Capital in a research note on Monday, February 12th. Finally, BMO Capital Markets restated a hold rating and set a $7.00 price objective on shares of Prospect Capital in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a strong buy rating to the company. Prospect Capital presently has a consensus rating of Hold and an average price target of $6.81.
Shares of Prospect Capital (NASDAQ PSEC) traded down $0.02 during mid-day trading on Wednesday, hitting $6.51. The company’s stock had a trading volume of 944,749 shares, compared to its average volume of 2,019,031. Prospect Capital has a twelve month low of $5.51 and a twelve month high of $9.45. The stock has a market cap of $2,350.00, a PE ratio of 11.42 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 (NASDAQ:PSEC) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.02. The firm had revenue of $162.40 million during the quarter, compared to analysts’ expectations of $153.94 million. Prospect Capital had a return on equity of 8.36% and a net margin of 31.02%. The firm’s quarterly revenue was down 11.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 EPS. analysts forecast that Prospect Capital will post 0.74 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, April 19th. Investors of record on Friday, March 30th will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 11.06%. The ex-dividend date is Wednesday, March 28th. Prospect Capital’s dividend payout ratio (DPR) is currently 126.32%.
In other Prospect Capital news, insider M Grier Eliasek bought 10,000 shares of Prospect Capital stock in a transaction that occurred on Monday, December 18th. The shares were bought at an average cost of $6.92 per share, with a total value of $69,200.00. Following the transaction, the insider now directly owns 1,162,196 shares of the company’s stock, valued at approximately $8,042,396.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John F. Barry bought 993,900 shares of Prospect Capital stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average cost of $7.21 per share, for a total transaction of $7,166,019.00. Following the completion of the transaction, the insider now directly owns 32,187,564 shares in the company, valued at $232,072,336.44. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,423,861 shares of company stock valued at $16,864,901 over the last 90 days. 7.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Two Sigma Investments LP boosted its position in Prospect Capital by 3,302.2% during 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. Quinn Opportunity Partners LLC bought a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $4,508,000. Penn Mutual Life Insurance Co bought a new stake in shares of Prospect Capital during the third quarter valued at approximately $3,992,000. Millennium Management LLC acquired a new position in shares of Prospect Capital during the fourth quarter valued at approximately $3,566,000. Finally, Cowen Inc. increased its stake in shares of Prospect Capital by 200.0% during the third quarter. Cowen Inc. now owns 248,000 shares of the financial services provider’s stock valued at $1,667,000 after acquiring an additional 496,000 shares during the period. 14.33% of the stock is currently owned by institutional investors.
TRADEMARK VIOLATION WARNING: “Prospect Capital (PSEC) Downgraded to Sell at BidaskClub” was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/03/15/prospect-capital-psec-downgraded-to-sell-at-bidaskclub.html.
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.
Receive News & Ratings for Prospect Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital and related companies with MarketBeat.com's FREE daily email newsletter.