Investors Purchase High Volume of Put Options on Prospect Capital Corp. (PSEC)
Prospect Capital Corp. (NASDAQ:PSEC) saw some unusual options trading activity on Tuesday. Traders purchased 16,232 put options on the company, American Banking News.com reports. This represents an increase of 1,753% compared to the typical volume of 876 put options.
Separately, 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, May 29th. They now have a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.61.
Shares of Prospect Capital Corp. (NASDAQ:PSEC) traded down 3.83% during mid-day trading on Tuesday, hitting $10.56. 17,742,200 shares of the company’s stock traded hands. Prospect Capital Corp. has a 52 week low of $9.17 and a 52 week high of $11.62. The stock’s 50-day moving average is $10.75 and its 200-day moving average is $10.65.
Prospect Capital Corp. (NASDAQ:PSEC) last posted its quarterly earnings results on Monday, August 25th. The company reported $0.25 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.32 by $0.07. The company had revenue of $182.84 million for the quarter, compared to the consensus estimate of $213.74 million. During the same quarter last year, the company posted $0.38 earnings per share. Prospect Capital Corp.’s revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Prospect Capital Corp. will post $1.28 earnings per share for the current fiscal year.
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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