Raymond James Financial, Inc. upgraded shares of Prospect Capital Corporation (NASDAQ:PSEC) from an underperform rating to a market perform rating in a research report sent to investors on Wednesday morning.

A number of other analysts have also commented on the stock. National Securities decreased their price target on shares of Prospect Capital Corporation from $7.00 to $6.00 and set a sell rating for the company in a research note on Wednesday. UBS AG upgraded shares of Prospect Capital Corporation from an underperform rating to a market perform rating in a research note on Wednesday. BidaskClub lowered shares of Prospect Capital Corporation from a sell rating to a strong sell rating in a research note on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Prospect Capital Corporation from a sell rating to a hold rating in a research note on Wednesday, July 26th. Finally, BMO Capital Markets restated a hold rating and set a $7.00 price target on shares of Prospect Capital Corporation in a research note on Thursday, June 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. Prospect Capital Corporation currently has an average rating of Hold and a consensus price target of $7.87.

Shares of Prospect Capital Corporation (NASDAQ PSEC) opened at 6.75 on Wednesday. The firm’s 50 day moving average is $7.95 and its 200-day moving average is $8.57. Prospect Capital Corporation has a 52 week low of $6.71 and a 52 week high of $9.58. Prospect Capital Corporation also was the target of some unusual options trading activity on Monday. Investors bought 11,548 call options on the company. This represents an increase of approximately 1,471% compared to the typical volume of 735 call options.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings results on Monday, August 28th. The financial services provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.02. The business had revenue of $166.70 million for the quarter, compared to the consensus estimate of $177.21 million. Prospect Capital Corporation had a net margin of 40.82% and a return on equity of 9.56%. The business’s revenue for the quarter was down 13.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 EPS. On average, equities research analysts anticipate that Prospect Capital Corporation will post $0.84 earnings per share for the current year.

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The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Tuesday, October 31st will be issued a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date of this dividend is Monday, October 30th. Prospect Capital Corporation’s dividend payout ratio is 142.86%.

A number of institutional investors have recently bought and sold shares of PSEC. Rhumbline Advisers increased its position in Prospect Capital Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock worth $218,000 after buying an additional 70 shares in the last quarter. Advisory Services Network LLC increased its position in Prospect Capital Corporation by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after buying an additional 105 shares in the last quarter. Essex Financial Services Inc. increased its position in Prospect Capital Corporation by 0.7% in the first quarter. Essex Financial Services Inc. now owns 45,115 shares of the financial services provider’s stock worth $408,000 after buying an additional 293 shares in the last quarter. Suntrust Banks Inc. increased its position in Prospect Capital Corporation by 0.6% in the first quarter. Suntrust Banks Inc. now owns 64,800 shares of the financial services provider’s stock worth $585,000 after buying an additional 388 shares in the last quarter. Finally, CWA Asset Management Group LLC increased its position in Prospect Capital Corporation by 1.4% in the first quarter. CWA Asset Management Group LLC now owns 42,543 shares of the financial services provider’s stock worth $385,000 after buying an additional 593 shares in the last quarter. 15.33% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Corporation 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.

Analyst Recommendations for Prospect Capital Corporation (NASDAQ:PSEC)

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