Prospect Capital Corp. Sees Large Growth in Short Interest (PSEC)
Shares of Prospect Capital Corp. (NASDAQ:PSEC) were the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 19,784,805 shares, a growth of 65.8% from the April 30th total of 11,936,019 shares, Analyst Ratings Network.com reports. Based on an average trading volume of 9,542,846 shares, the days-to-cover ratio is presently 2.1 days. Approximately 6.2% of the shares of the company are short sold.
A number of research firms have recently commented on PSEC. Analysts at Evercore Partners upgraded shares of Prospect Capital Corp. from an “underweight” rating to an “equal weight” rating in a research note on Thursday. They now have a $10.00 price target on the stock. Separately, analysts at Keefe, Bruyette & Woods cut their price target on shares of Prospect Capital Corp. from $11.75 to $11.00 in a research note on Friday, May 9th. Finally, analysts at Guggenheim upgraded shares of Prospect Capital Corp. from a “neutral” rating to a “buy” rating in a research note on Thursday, April 10th. They now have a $12.00 price target on the stock, up previously from $11.50. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Prospect Capital Corp. presently has a consensus rating of “Buy” and an average price target of $11.59.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) opened at 10.00 on Friday. Prospect Capital Corp. has a 1-year low of $9.17 and a 1-year high of $11.62. The stock’s 50-day moving average is $10.45 and its 200-day moving average is $10.9. The company has a market cap of $3.424 billion and a P/E ratio of 8.34.
Prospect Capital Corp. (NASDAQ:PSEC) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.01. During the same quarter in the prior year, the company posted $0.26 earnings per share. On average, analysts predict that Prospect Capital Corp. will post $1.27 earnings per share for the current fiscal year.
The company also recently announced a monthly dividend, which is scheduled for Thursday, November 20th. Investors of record on Friday, October 31st will be paid a dividend of $0.1106 per share. This represents a $1.33 annualized dividend and a dividend yield of 13.27%. The ex-dividend date is Wednesday, October 29th. This is an increase from Prospect Capital Corp.’s previous monthly dividend of $0.11.
Prospect Capital Corporation (NASDAQ:PSEC), is a financial services company, which lends to and invests in middle market privately-held companies.
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