Prospect Capital Corporation (NASDAQ:PSEC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments. “

PSEC has been the subject of several other reports. UBS AG upgraded Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday. BMO Capital Markets restated a “hold” rating and issued a $7.00 price objective on shares of Prospect Capital Corporation in a research note on Thursday, June 1st. BidaskClub upgraded Prospect Capital Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. Raymond James Financial, Inc. upgraded Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a research note on Wednesday. Finally, FBR & Co lowered Prospect Capital Corporation from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $9.50 to $8.50 in a research note on Thursday, May 11th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.04.

Shares of Prospect Capital Corporation (PSEC) opened at 6.55 on Friday. Prospect Capital Corporation has a 52-week low of $6.54 and a 52-week high of $9.58. The firm has a 50-day moving average price of $7.80 and a 200-day moving average price of $8.51.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its earnings results on Monday, August 28th. The financial services provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $177.21 million. Prospect Capital Corporation had a net margin of 36.08% and a return on equity of 8.98%. Prospect Capital Corporation’s quarterly revenue was down 13.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. Equities analysts anticipate that Prospect Capital Corporation will post $0.84 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. Rhumbline Advisers raised its stake in shares of Prospect Capital Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock worth $218,000 after buying an additional 70 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Prospect Capital Corporation by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after buying an additional 105 shares during the last quarter. Essex Financial Services Inc. raised its stake in shares of Prospect Capital Corporation by 0.7% in the first quarter. Essex Financial Services Inc. now owns 45,115 shares of the financial services provider’s stock worth $408,000 after buying an additional 293 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Prospect Capital Corporation by 0.6% in the first quarter. Suntrust Banks Inc. now owns 64,800 shares of the financial services provider’s stock worth $585,000 after buying an additional 388 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its stake in shares of Prospect Capital Corporation by 1.4% in the first quarter. CWA Asset Management Group LLC now owns 42,543 shares of the financial services provider’s stock worth $385,000 after buying an additional 593 shares during the last quarter. Institutional investors and hedge funds own 15.33% of the company’s stock.

Prospect Capital Corporation Company Profile

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.

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