Prospect Capital (NASDAQ:PSEC) Lifted to Hold at StockNews.com

Prospect Capital (NASDAQ:PSEC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Separately, Wells Fargo & Company decreased their price objective on Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Thursday, May 16th.

Prospect Capital Stock Up 0.2 %

Shares of NASDAQ:PSEC opened at $5.53 on Thursday. The company has a fifty day moving average of $5.51 and a 200-day moving average of $5.67. The company has a market capitalization of $2.31 billion, a PE ratio of 16.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72. Prospect Capital has a 52-week low of $5.03 and a 52-week high of $6.69.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $202.22 million during the quarter, compared to the consensus estimate of $214.70 million. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%.

Insiders Place Their Bets

In other Prospect Capital news, CFO Dask Kristin Lea Van purchased 3,330 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was purchased at an average cost of $22.50 per share, for a total transaction of $74,925.00. Following the acquisition, the chief financial officer now owns 4,539 shares in the company, valued at approximately $102,127.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 26.69% of the company’s stock.

Institutional Trading of Prospect Capital

A number of large investors have recently bought and sold shares of PSEC. Van ECK Associates Corp grew its holdings in Prospect Capital by 26.1% during the 4th quarter. Van ECK Associates Corp now owns 6,161,151 shares of the financial services provider’s stock worth $36,905,000 after acquiring an additional 1,276,762 shares during the period. XML Financial LLC boosted its position in shares of Prospect Capital by 29.1% during the 1st quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock worth $9,455,000 after purchasing an additional 386,266 shares in the last quarter. LSV Asset Management boosted its position in shares of Prospect Capital by 17.2% during the 4th quarter. LSV Asset Management now owns 2,035,654 shares of the financial services provider’s stock worth $12,194,000 after purchasing an additional 298,400 shares in the last quarter. Jump Financial LLC boosted its position in shares of Prospect Capital by 105.9% during the 4th quarter. Jump Financial LLC now owns 328,220 shares of the financial services provider’s stock worth $1,966,000 after purchasing an additional 168,820 shares in the last quarter. Finally, Caxton Associates LP boosted its position in shares of Prospect Capital by 244.6% during the 3rd quarter. Caxton Associates LP now owns 235,729 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 167,316 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.