Prospect Capital (NASDAQ:PSEC) Share Price Crosses Above 200 Day Moving Average of $5.42

Prospect Capital Co. (NASDAQ:PSEC)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.42 and traded as high as $5.49. Prospect Capital shares last traded at $5.48, with a volume of 2,976,542 shares changing hands.

Wall Street Analysts Forecast Growth

PSEC has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Friday, August 30th. StockNews.com cut Prospect Capital from a “hold” rating to a “sell” rating in a report on Friday, August 30th.

Prospect Capital Stock Up 0.2 %

The firm’s 50-day moving average is $5.26 and its 200 day moving average is $5.42. The firm has a market capitalization of $2.36 billion, a P/E ratio of 16.15 and a beta of 1.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.93 and a current ratio of 0.93.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.07. The business had revenue of $212.26 million during the quarter. Prospect Capital had a return on equity of 13.53% and a net margin of 28.07%. During the same quarter in the previous year, the business posted $0.23 earnings per share.

Prospect Capital Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, October 29th will be given a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 13.11%. The ex-dividend date of this dividend is Tuesday, October 29th. Prospect Capital’s dividend payout ratio (DPR) is currently 211.76%.

Hedge Funds Weigh In On Prospect Capital

Hedge funds have recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in Prospect Capital in the second quarter valued at approximately $27,000. Headlands Technologies LLC raised its position in Prospect Capital by 2,266.9% during the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 7,254 shares in the last quarter. Edge Financial Advisors LLC acquired a new stake in Prospect Capital in the first quarter valued at $55,000. Cutter & CO Brokerage Inc. acquired a new position in shares of Prospect Capital during the 1st quarter worth about $65,000. Finally, Empowered Funds LLC bought a new stake in shares of Prospect Capital in the 1st quarter valued at about $73,000. Institutional investors own 9.06% of the company’s stock.

About Prospect Capital

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.