Prospect Capital (PSEC) Upgraded at BidaskClub
BidaskClub upgraded shares of Prospect Capital (NASDAQ:PSEC) from a hold rating to a buy rating in a research report sent to investors on Friday.
A number of other analysts have also recently issued reports on the company. ValuEngine raised Prospect Capital from a buy rating to a strong-buy rating in a research note on Friday. National Securities reduced their price target on Prospect Capital from $5.00 to $4.00 and set a sell rating for the company in a research report on Tuesday, November 14th. Zacks Investment Research downgraded Prospect Capital from a hold rating to a sell rating in a research report on Saturday, November 11th. BMO Capital Markets reduced their price target on Prospect Capital from $7.00 to $6.00 and set a market perform rating for the company in a research report on Friday, November 10th. Finally, TheStreet downgraded Prospect Capital from a b- rating to a c+ rating in a research report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $6.17.
Shares of Prospect Capital (PSEC) opened at $7.26 on Friday. Prospect Capital has a 52 week low of $5.51 and a 52 week high of $9.58. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63. The stock has a market capitalization of $2,558.80, a P/E ratio of 14.52 and a beta of 0.56.
The company also recently declared a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a yield of 9.92%. The ex-dividend date of this dividend is Tuesday, January 30th. Prospect Capital’s dividend payout ratio (DPR) is currently 144.00%.
In other news, insider John F. Barry purchased 995,883 shares of Prospect Capital stock in a transaction on Monday, November 20th. The stock was purchased at an average price of $6.98 per share, with a total value of $6,951,263.34. Following the transaction, the insider now directly owns 25,219,413 shares in the company, valued at approximately $176,031,502.74. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider M Grier Eliasek purchased 10,000 shares of Prospect Capital stock in a transaction on Wednesday, December 20th. The shares were purchased at an average cost of $6.94 per share, with a total value of $69,400.00. Following the transaction, the insider now owns 1,182,196 shares in the company, valued at $8,204,440.24. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 3,600,621 shares of company stock valued at $24,546,132. Insiders own 7.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $108,000. Jane Street Group LLC acquired a new stake in shares of Prospect Capital in the 3rd quarter valued at approximately $127,000. Regal Investment Advisors LLC boosted its holdings in shares of Prospect Capital by 19.3% in the 2nd quarter. Regal Investment Advisors LLC now owns 16,819 shares of the financial services provider’s stock valued at $137,000 after buying an additional 2,720 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Prospect Capital by 0.6% in the 2nd 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 last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Prospect Capital by 8.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 19,659 shares of the financial services provider’s stock valued at $160,000 after buying an additional 1,507 shares during the last quarter. 15.60% of the stock is owned by institutional investors.
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Prospect Capital 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.
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