Zacks Investment Research lowered shares of Prospect Capital Corporation (NASDAQ:PSEC) from a hold rating to a sell rating in a report released on Friday.

According to Zacks, “Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments. “

Other research analysts also recently issued research reports about the stock. BMO Capital Markets reiterated a hold rating and issued a $7.00 target price on shares of Prospect Capital Corporation in a report on Thursday, June 1st. FBR & Co lowered shares of Prospect Capital Corporation from an outperform rating to a market perform rating and decreased their price target for the stock from $9.50 to $8.50 in a research report on Thursday, May 11th. BidaskClub upgraded shares of Prospect Capital Corporation from a hold rating to a buy rating in a research report on Wednesday, June 28th. National Securities restated a sell rating and issued a $7.00 price target on shares of Prospect Capital Corporation in a research report on Monday, May 15th. Finally, Raymond James Financial, Inc. upgraded shares of Prospect Capital Corporation from an underperform rating to a market perform rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $8.04.

Prospect Capital Corporation (NASDAQ PSEC) traded up 2.29% during trading on Friday, reaching $6.70. 4,983,274 shares of the company’s stock were exchanged. Prospect Capital Corporation has a 1-year low of $6.54 and a 1-year high of $9.58. The company’s 50-day moving average is $7.76 and its 200-day moving average is $8.50.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its earnings results on Monday, August 28th. The financial services provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by $0.02. The firm had revenue of $166.70 million during the quarter, compared to the consensus estimate of $177.21 million. Prospect Capital Corporation had a return on equity of 8.98% and a net margin of 36.08%. The business’s revenue was down 13.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.26 EPS. On average, analysts forecast that Prospect Capital Corporation will post $0.80 EPS for the current year.

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The business also recently declared a monthly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Tuesday, October 31st will be given a $0.06 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.72 annualized dividend and a yield of 10.75%. Prospect Capital Corporation’s dividend payout ratio is 142.86%.

Hedge funds have recently bought and sold shares of the company. Rhumbline Advisers raised its stake 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 valued at $218,000 after buying an additional 70 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of 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 valued at $144,000 after buying an additional 105 shares during the period. Essex Financial Services Inc. raised its stake in shares of 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 valued at $408,000 after buying an additional 293 shares during the period. Suntrust Banks Inc. raised its stake in shares of 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 valued at $585,000 after buying an additional 388 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of 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 valued at $385,000 after buying an additional 593 shares during the period. Institutional investors own 15.33% of the company’s stock.

About Prospect Capital Corporation

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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