Prospect Capital (NASDAQ:PSEC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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. “

A number of other equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Prospect Capital from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 8th. ValuEngine upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Friday, December 27th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has an average rating of “Sell” and a consensus price target of $5.00.

PSEC stock opened at $6.49 on Wednesday. The firm’s 50-day moving average price is $6.53 and its two-hundred day moving average price is $6.54. Prospect Capital has a 12-month low of $6.21 and a 12-month high of $6.97. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 7.64 and a beta of 0.74. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.68.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.14). Prospect Capital had a net margin of 11.49% and a return on equity of 9.05%. The firm had revenue of $161.88 million during the quarter, compared to analysts’ expectations of $162.98 million. During the same quarter in the previous year, the firm posted $0.23 EPS. Equities analysts predict that Prospect Capital will post 0.72 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BT Wealth Management LLC boosted its stake in shares of Prospect Capital by 10.4% during the 4th quarter. BT Wealth Management LLC now owns 23,840 shares of the financial services provider’s stock valued at $154,000 after purchasing an additional 2,240 shares in the last quarter. KG&L Capital Management LLC boosted its stake in shares of Prospect Capital by 19.4% during the 4th quarter. KG&L Capital Management LLC now owns 16,311 shares of the financial services provider’s stock valued at $105,000 after purchasing an additional 2,647 shares in the last quarter. Scopia Capital Management LP bought a new stake in shares of Prospect Capital during the 3rd quarter valued at about $7,152,000. Voloridge Investment Management LLC bought a new stake in shares of Prospect Capital during the 3rd quarter valued at about $98,000. Finally, IHT Wealth Management LLC bought a new stake in Prospect Capital during the third quarter worth about $111,000. 12.62% of the stock is currently owned by hedge funds and other institutional investors.

Prospect Capital Company Profile

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.

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