Shares of Prospect Capital Corporation (NASDAQ:PSEC) have been given a consensus recommendation of “Hold” by the eight ratings firms that are covering the company, Marketbeat.com reports. Three analysts have rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $7.17.

Several research analysts have recently weighed in on the company. Zacks Investment Research lowered Prospect Capital Corporation from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. BidaskClub raised Prospect Capital Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. National Securities lowered their price objective on Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating for the company in a research report on Wednesday, August 30th. Raymond James Financial, Inc. raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, UBS AG raised Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th.

In other Prospect Capital Corporation news, CFO Brian H. Oswald acquired 50,000 shares of the stock in a transaction dated Friday, September 1st. The stock was purchased at an average cost of $6.73 per share, with a total value of $336,500.00. Following the transaction, the chief financial officer now owns 493,373 shares in the company, valued at approximately $3,320,400.29. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Bank of Montreal Can grew its stake in shares of Prospect Capital Corporation by 4.6% in the 2nd quarter. Bank of Montreal Can now owns 5,892,500 shares of the financial services provider’s stock valued at $47,847,000 after buying an additional 257,000 shares during the period. Van ECK Associates Corp grew its stake in shares of Prospect Capital Corporation by 21.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,307,637 shares of the financial services provider’s stock valued at $18,738,000 after buying an additional 410,614 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Prospect Capital Corporation by 9.9% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,129,874 shares of the financial services provider’s stock valued at $9,175,000 after buying an additional 101,841 shares during the period. Legal & General Group Plc grew its stake in shares of Prospect Capital Corporation by 13.2% in the 2nd quarter. Legal & General Group Plc now owns 963,173 shares of the financial services provider’s stock valued at $7,816,000 after buying an additional 112,354 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Prospect Capital Corporation in the 2nd quarter valued at about $7,697,000. 15.20% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Analysts Set Prospect Capital Corporation (PSEC) Price Target at $7.17” was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.watchlistnews.com/analysts-set-prospect-capital-corporation-psec-price-target-at-7-17/1599533.html.

Shares of Prospect Capital Corporation (NASDAQ PSEC) traded up 0.75% on Wednesday, reaching $6.72. 3,268,802 shares of the company were exchanged. The company has a 50-day moving average price of $7.29 and a 200 day moving average price of $8.27. Prospect Capital Corporation has a 1-year low of $6.54 and a 1-year high of $9.58.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its earnings results on Monday, August 28th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $177.21 million. Prospect Capital Corporation had a return on equity of 8.98% and a net margin of 36.08%. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share. Equities analysts predict that Prospect Capital Corporation will post $0.78 EPS for the current fiscal year.

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Tuesday, October 31st will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.71%. The ex-dividend date of this dividend is Monday, October 30th. Prospect Capital Corporation’s dividend payout ratio (DPR) is presently 102.86%.

About Prospect Capital Corporation

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 Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.