Prospect Capital (PSEC) Upgraded at ValuEngine
ValuEngine upgraded shares of Prospect Capital (NASDAQ:PSEC) from a buy rating to a strong-buy rating in a report issued on Friday.
Several other equities analysts have also weighed in on PSEC. UBS Group raised shares of Prospect Capital from an underperform rating to a market perform rating in a research report on Wednesday, August 30th. National Securities cut their price objective on shares of Prospect Capital from $7.00 to $6.00 and set a sell rating on the stock in a research report on Wednesday, August 30th. Raymond James Financial raised shares of Prospect Capital from an underperform rating to a market perform rating in a research report on Wednesday, August 30th. Zacks Investment Research lowered shares of Prospect Capital from a hold rating to a sell rating in a research report on Friday, September 1st. Finally, TheStreet lowered shares of Prospect Capital from a b- rating to a c+ rating in a research report on Wednesday, September 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Prospect Capital has an average rating of Hold and a consensus target price of $6.17.
Shares of Prospect Capital (PSEC) opened at $7.26 on Friday. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.78. The company has a market cap of $2,558.80, a P/E ratio of 14.52 and a beta of 0.56. Prospect Capital has a fifty-two week low of $5.51 and a fifty-two week high of $9.58.
Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The company had revenue of $158.58 million for the quarter, compared to analyst estimates of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. analysts anticipate that Prospect Capital will post 0.72 EPS for the current year.
The company also recently declared 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 dividend on an annualized basis and a dividend yield of 9.92%. The ex-dividend date of this dividend is Tuesday, January 30th. Prospect Capital’s dividend payout ratio is 144.00%.
In related news, CEO John F. Barry bought 180,062 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were acquired at an average price of $6.96 per share, with a total value of $1,253,231.52. Following the completion of the transaction, the chief executive officer now owns 30,431,275 shares of the company’s stock, valued at approximately $211,801,674. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider M Grier Eliasek bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were bought at an average cost of $6.94 per share, for a total transaction of $69,400.00. Following the transaction, the insider now directly owns 1,182,196 shares of the company’s stock, valued at approximately $8,204,440.24. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,600,621 shares of company stock worth $24,546,132. Insiders own 7.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp increased its position in Prospect Capital by 4.2% during the third quarter. Van ECK Associates Corp now owns 2,404,212 shares of the financial services provider’s stock worth $16,156,000 after acquiring an additional 96,575 shares during the period. Legal & General Group Plc boosted its stake in Prospect Capital by 8.8% during the third quarter. Legal & General Group Plc now owns 1,047,945 shares of the financial services provider’s stock worth $7,037,000 after buying an additional 84,772 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Prospect Capital during the second quarter worth $7,697,000. California Public Employees Retirement System boosted its stake in Prospect Capital by 5.4% during the third quarter. California Public Employees Retirement System now owns 808,100 shares of the financial services provider’s stock worth $5,430,000 after buying an additional 41,100 shares in the last quarter. Finally, Camelot Portfolios LLC boosted its stake in Prospect Capital by 5.1% during the third quarter. Camelot Portfolios LLC now owns 699,153 shares of the financial services provider’s stock worth $4,698,000 after buying an additional 33,830 shares in the last quarter. 15.60% of the stock is currently owned by institutional investors and hedge funds.
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Prospect Capital 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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