ValuEngine lowered shares of Prospect Capital (NASDAQ:PSEC) from a hold rating to a sell rating in a research report released on Thursday morning, ValuEngine reports.
Other equities analysts also recently issued reports about the company. TheStreet raised Prospect Capital from a f rating to a b- rating in a report on Friday, July 26th. Zacks Investment Research raised Prospect Capital from a sell rating to a hold rating in a report on Wednesday, July 10th. BidaskClub raised Prospect Capital from a sell rating to a hold rating in a report on Thursday, May 9th. Finally, National Securities reaffirmed a sell rating and issued a $4.00 price target on shares of Prospect Capital in a report on Monday, May 13th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has a consensus rating of Sell and a consensus target price of $6.00.
Shares of Prospect Capital stock traded down $0.18 on Thursday, reaching $6.36. 23,023 shares of the company were exchanged, compared to its average volume of 1,144,350. Prospect Capital has a 1-year low of $5.70 and a 1-year high of $7.60. The company has a market capitalization of $2.37 billion, a P/E ratio of 8.09 and a beta of 0.73. 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 stock’s 50 day moving average is $6.59.
Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.21 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.21. Prospect Capital had a return on equity of 9.58% and a net margin of 30.82%. The business had revenue of $171.10 million during the quarter, compared to the consensus estimate of $173.48 million. During the same period in the previous year, the company posted $0.19 earnings per share. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Prospect Capital will post 0.86 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a yield of 11.32%. The ex-dividend date of this dividend was Thursday, June 27th. Prospect Capital’s dividend payout ratio (DPR) is 91.14%.
In related news, CEO John F. Barry purchased 63,496 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $6.29 per share, for a total transaction of $399,389.84. Following the completion of the purchase, the chief executive officer now directly owns 38,364,480 shares of the company’s stock, valued at $241,312,579.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John F. Barry purchased 137,839 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were bought at an average price of $6.34 per share, with a total value of $873,899.26. Following the purchase, the insider now directly owns 39,218,728 shares of the company’s stock, valued at $248,646,735.52. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 610,246 shares of company stock valued at $3,882,141. 10.20% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its holdings 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 worth $11,497,000 after acquiring an additional 1,718,000 shares during the period. Legal & General Group Plc grew its holdings in 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 purchasing an additional 234,288 shares during the last quarter. Unigestion Holding SA acquired a new stake in Prospect Capital in the second quarter valued at $1,003,000. LSV Asset Management grew its holdings in Prospect Capital by 1.6% in the first quarter. LSV Asset Management now owns 5,700,600 shares of the financial services provider’s stock valued at $37,167,000 after purchasing an additional 87,235 shares during the last quarter. Finally, Rational Advisors LLC acquired a new stake in Prospect Capital in the first quarter valued at $475,000. Institutional investors and hedge funds own 12.22% of the company’s stock.
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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