Prospect Capital Co. (NASDAQ:PSEC) has been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $5.00.
A number of analysts have commented on the company. National Securities reissued a “sell” rating and issued a $4.00 target price on shares of Prospect Capital in a report on Monday, May 13th. TheStreet lowered Hostess Brands from a “b” rating to a “f” rating in a report on Thursday. BidaskClub raised Zogenix from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th.
In related news, CEO John F. Barry bought 408,911 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average cost of $6.38 per share, for a total transaction of $2,608,852.18. Following the completion of the transaction, the chief executive officer now owns 38,938,445 shares of the company’s stock, valued at $248,427,279.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John F. Barry bought 63,496 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average price of $6.29 per share, for a total transaction of $399,389.84. Following the completion of the transaction, the chief executive officer now directly owns 38,364,480 shares of the company’s stock, valued at approximately $241,312,579.20. The disclosure for this purchase can be found here. Insiders have purchased 610,246 shares of company stock worth $3,882,141 over the last quarter. 10.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PSEC. Bank of Montreal Can lifted its position in Prospect Capital by 3,775.8% during the first quarter. Bank of Montreal Can now owns 1,763,500 shares of the financial services provider’s stock valued at $11,497,000 after purchasing an additional 1,718,000 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Prospect Capital by 16.1% in the fourth quarter. Legal & General Group Plc now owns 1,685,044 shares of the financial services provider’s stock valued at $10,675,000 after acquiring an additional 234,288 shares in the last quarter. Unigestion Holding SA purchased a new position in shares of Prospect Capital in the second quarter valued at about $1,003,000. PVG Asset Management Corp purchased a new position in shares of Prospect Capital in the fourth quarter valued at about $894,000. Finally, HRT Financial LLC lifted its position in shares of Prospect Capital by 626.1% in the fourth quarter. HRT Financial LLC now owns 105,942 shares of the financial services provider’s stock valued at $668,000 after acquiring an additional 91,352 shares in the last quarter. Institutional investors own 12.19% of the company’s stock.
PSEC stock traded up $0.02 on Tuesday, reaching $6.67. 1,133,031 shares of the company traded hands, compared to its average volume of 1,148,927. Prospect Capital has a one year low of $5.70 and a one year high of $7.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $2.45 billion, a P/E ratio of 8.44 and a beta of 0.72. The firm’s fifty day simple moving average is $6.52.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. The company had revenue of $171.10 million during the quarter, compared to analyst estimates of $173.48 million. Prospect Capital had a return on equity of 9.58% and a net margin of 30.82%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $0.19 EPS. As a group, sell-side analysts forecast that Prospect Capital will post 0.86 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, June 28th were issued a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.79%. The ex-dividend date was Thursday, June 27th. Prospect Capital’s payout ratio is currently 91.14%.
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.
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