Prospect Capital Corporation (PSEC) Receives Average Recommendation of “Hold” from Analysts
Prospect Capital Corporation (NASDAQ:PSEC) has been given a consensus rating of “Hold” by the nine analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $6.17.
A number of brokerages recently weighed in on PSEC. ValuEngine upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. National Securities cut their price target on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a research report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Saturday, November 11th. BMO Capital Markets cut their price target on shares of Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, November 10th. Finally, TheStreet downgraded shares of Prospect Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th.
Prospect Capital (NASDAQ PSEC) opened at $6.76 on Monday. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital has a 52-week low of $5.51 and a 52-week high of $9.58. The stock has a market cap of $2,440.00, a PE ratio of 8.35 and a beta of 0.55.
Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The business had revenue of $158.58 million for the quarter, compared to analyst estimates of $161.00 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. equities research analysts anticipate that Prospect Capital will post 0.72 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Investors of record on Wednesday, January 31st will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.72 dividend on an annualized basis and a yield of 10.65%. Prospect Capital’s payout ratio is 141.18%.
In other Prospect Capital news, CEO John F. Barry bought 110,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was acquired at an average cost of $6.70 per share, with a total value of $737,000.00. Following the purchase, the chief executive officer now owns 28,093,192 shares in the company, valued at $188,224,386.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider M Grier Eliasek bought 10,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The shares were acquired at an average cost of $6.69 per share, with a total value of $66,900.00. Following the completion of the purchase, the insider now owns 1,082,196 shares in the company, valued at approximately $7,239,891.24. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,195,280 shares of company stock valued at $14,925,858. 7.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP bought a new position in shares of Prospect Capital during the 3rd quarter worth approximately $108,000. Jane Street Group LLC bought a new position in shares of Prospect Capital during the 3rd quarter worth approximately $127,000. Regal Investment Advisors LLC grew its stake in shares of Prospect Capital by 19.3% during the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 2,720 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Prospect Capital during the 2nd quarter worth approximately $142,000. Finally, Advisory Services Network LLC grew its stake in shares of Prospect Capital by 0.6% during the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 105 shares in the last quarter. 15.72% of the stock is owned by institutional investors and hedge funds.
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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.
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