BidaskClub lowered shares of Prospect Capital (NASDAQ:PSEC) from a hold rating to a sell rating in a research report report published on Friday morning.

Other analysts also recently issued reports about the stock. ValuEngine upgraded shares of Prospect Capital from a hold rating to a buy rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Prospect Capital from a hold rating to a buy rating and set a $7.75 target price on the stock in a report on Wednesday, January 17th. TheStreet downgraded shares of Prospect Capital from a b- rating to a c+ rating in a report on Wednesday, September 27th. BMO Capital Markets reissued a hold rating and issued a $7.00 target price on shares of Prospect Capital in a research report on Monday, January 8th. Finally, National Securities dropped their target price 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $6.81.

Prospect Capital (PSEC) traded up $0.05 during midday trading on Friday, hitting $6.85. 1,267,500 shares of the company were exchanged, compared to its average volume of 1,925,346. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.63 and a quick ratio of 2.63. Prospect Capital has a twelve month low of $5.51 and a twelve month high of $9.58. The company has a market cap of $2,490.00, a P/E ratio of 13.43 and a beta of 0.56.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The business had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. analysts forecast that Prospect Capital will post 0.72 EPS for the current year.

The company also recently announced a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be given a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.51%. The ex-dividend date of this dividend is Tuesday, January 30th. Prospect Capital’s dividend payout ratio (DPR) is currently 141.18%.

In other news, COO M Grier Eliasek bought 10,000 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were acquired at an average cost of $6.89 per share, with a total value of $68,900.00. Following the completion of the transaction, the chief operating officer now directly owns 1,003,990 shares in the company, valued at approximately $6,917,491.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John F. Barry bought 993,900 shares of the company’s stock in a transaction dated Friday, December 22nd. The stock was purchased at an average cost of $7.21 per share, for a total transaction of $7,166,019.00. Following the completion of the transaction, the insider now owns 32,187,564 shares of the company’s stock, valued at $232,072,336.44. The disclosure for this purchase can be found here. Over the last three months, insiders bought 4,604,521 shares of company stock worth $31,784,051. 7.10% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Americafirst Capital Management LLC purchased a new position in Prospect Capital during the second quarter valued at approximately $378,000. Arrowstreet Capital Limited Partnership purchased a new position in Prospect Capital during the second quarter valued at approximately $7,697,000. California Public Employees Retirement System grew its position in Prospect Capital by 2.7% during the second quarter. California Public Employees Retirement System now owns 767,000 shares of the financial services provider’s stock valued at $6,228,000 after purchasing an additional 20,100 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Prospect Capital by 86.9% during the third quarter. Janney Montgomery Scott LLC now owns 87,689 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 40,765 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Prospect Capital during the third quarter valued at approximately $767,000. 14.58% of the stock is currently 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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