Prospect Capital Corp. (PSEC) Cut to “Hold” at TheStreet
PSEC has been the topic of a number of other reports. Vetr upgraded Prospect Capital Corp. from a sell rating to a hold rating and set a $8.11 target price on the stock in a research report on Wednesday, August 3rd. National Securities restated a sell rating and set a $7.00 price objective on shares of Prospect Capital Corp. in a research report on Thursday, November 10th. Finally, Zacks Investment Research downgraded Prospect Capital Corp. from a hold rating to a sell rating in a research report on Wednesday, July 20th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $7.50.
Prospect Capital Corp. (NASDAQ:PSEC) opened at 7.75 on Thursday. The stock has a market cap of $2.77 billion, a PE ratio of 26.72 and a beta of 0.49. The stock has a 50 day moving average price of $7.94 and a 200-day moving average price of $7.97. Prospect Capital Corp. has a 1-year low of $5.21 and a 1-year high of $8.68.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its earnings results on Tuesday, November 8th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.02. The firm earned $179.83 million during the quarter, compared to analysts’ expectations of $185.46 million. Prospect Capital Corp. had a return on equity of 10.25% and a net margin of 20.34%. Prospect Capital Corp.’s quarterly revenue was down 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 earnings per share. On average, equities analysts expect that Prospect Capital Corp. will post $0.98 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Thursday, February 16th. Shareholders of record on Tuesday, January 31st will be issued a dividend of $0.0833 per share. The ex-dividend date of this dividend is Friday, January 27th. This represents a $1.00 dividend on an annualized basis and a yield of 12.90%. Prospect Capital Corp.’s dividend payout ratio is currently 227.28%.
In related news, CFO Brian H. Oswald bought 4,000 shares of the stock in a transaction on Tuesday, September 13th. The stock was bought at an average price of $7.85 per share, for a total transaction of $31,400.00. Following the completion of the acquisition, the chief financial officer now directly owns 480,000 shares in the company, valued at $3,768,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.60% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in Prospect Capital Corp. during the second quarter worth $102,000. Paragon Capital Management Ltd raised its stake in Prospect Capital Corp. by 25.9% in the second quarter. Paragon Capital Management Ltd now owns 13,410 shares of the company’s stock worth $105,000 after buying an additional 2,759 shares in the last quarter. Blair William & Co. IL raised its stake in Prospect Capital Corp. by 28.7% in the second quarter. Blair William & Co. IL now owns 13,450 shares of the company’s stock worth $105,000 after buying an additional 3,000 shares in the last quarter. WealthTrust Fairport LLC bought a new stake in Prospect Capital Corp. during the third quarter worth $112,000. Finally, Stratos Wealth Partners LTD. raised its stake in Prospect Capital Corp. by 25.3% in the second quarter. Stratos Wealth Partners LTD. now owns 14,457 shares of the company’s stock worth $113,000 after buying an additional 2,919 shares in the last quarter. Institutional investors own 11.17% of the company’s stock.
Prospect Capital Corp. Company Profile
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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