Prospect Capital (NASDAQ:PSEC) Raised to “Hold” at Zacks Research

Prospect Capital (NASDAQ:PSEC) was upgraded by equities research analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday, Zacks reports.

Several other research firms have also recently issued reports on PSEC. Wall Street Zen cut Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings lowered shares of Prospect Capital from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 26th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and an average price target of $2.00.

Prospect Capital Trading Down 5.2%

Shares of Prospect Capital stock opened at $1.83 on Monday. The stock has a market capitalization of $976.89 million, a P/E ratio of 36.60 and a beta of 0.82. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $2.20 and a 200 day simple moving average of $2.34. Prospect Capital has a 12-month low of $1.80 and a 12-month high of $3.12.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, August 20th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.04. Prospect Capital had a return on equity of 12.15% and a net margin of 19.33%.The firm had revenue of $155.76 million during the quarter, compared to the consensus estimate of $149.80 million. Research analysts expect that Prospect Capital will post 0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Prospect Capital

In related news, CEO John Barry. III bought 1,217,105 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were acquired at an average price of $2.24 per share, with a total value of $2,726,315.20. Following the completion of the transaction, the chief executive officer owned 90,479,988 shares in the company, valued at $202,675,173.12. The trade was a 1.36% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 25.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its position in Prospect Capital by 55.5% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 16,970 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 6,056 shares during the period. Private Advisor Group LLC grew its position in shares of Prospect Capital by 0.4% in the 1st quarter. Private Advisor Group LLC now owns 1,711,638 shares of the financial services provider’s stock valued at $4,467,000 after buying an additional 6,262 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Prospect Capital in the second quarter valued at about $35,000. GTS Securities LLC acquired a new stake in shares of Prospect Capital in the second quarter valued at about $40,000. Finally, Spartan Wealth Advisory Services LLC bought a new position in shares of Prospect Capital during the first quarter worth about $50,000. 9.06% of the stock is owned by institutional investors and hedge funds.

About Prospect Capital

Prospect Capital Corporation is a business development company that provides financing to privately held, middle-market companies. The company primarily invests in first-lien and second-lien loans, subordinated debt, and other debt and equity securities. Its investments are designed to support acquisitions, recapitalizations, growth initiatives, refinancings, and other corporate purposes.

Through its investment platform, Prospect Capital also participates in specialized finance and structured investment activities, including investments in real estate-related assets and other operating businesses.