Prospect Capital Corp. (NASDAQ:PSEC) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage presently has a $8.72 price objective on the stock. Vetr‘s target price points to a potential upside of 7.39% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Prospect Capital Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, July 20th. National Securities downgraded Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 price objective on the stock. in a report on Tuesday, July 19th. FBR & Co reissued an “outperform” rating and set a $10.00 price objective (up previously from $9.00) on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Barclays PLC reissued an “equal weight” rating and set a $7.00 price objective on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. Finally, BMO Capital Markets reissued a “market perform” rating and set a $7.00 price objective on shares of Prospect Capital Corp. in a report on Thursday, September 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $7.60.

Analyst Recommendations for Prospect Capital Corp. (NASDAQ:PSEC)

Prospect Capital Corp. (NASDAQ:PSEC) opened at 8.12 on Wednesday. The firm has a market capitalization of $2.90 billion, a PE ratio of 28.00 and a beta of 0.62. Prospect Capital Corp. has a 1-year low of $5.21 and a 1-year high of $8.68. The firm has a 50-day moving average price of $8.32 and a 200-day moving average price of $7.77.

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Prospect Capital Corp. (NASDAQ:PSEC) last issued its earnings results on Monday, August 29th. The company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01. The firm had revenue of $193.04 million for the quarter. Prospect Capital Corp. had a return on equity of 10.47% and a net margin of 13.05%. The company’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 EPS. Equities analysts expect that Prospect Capital Corp. will post $0.99 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be given a dividend of $0.0833 per share. This represents a $1.00 annualized dividend and a yield of 12.31%. The ex-dividend date is Wednesday, September 28th. Prospect Capital Corp.’s dividend payout ratio is currently 344.83%.

In related news, CFO Brian H. Oswald bought 4,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was acquired at an average cost of $7.85 per share, with a total value of $31,400.00. Following the transaction, the chief financial officer now directly owns 480,000 shares in the company, valued at $3,768,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bayesian Capital Management LP bought a new position in shares of Prospect Capital Corp. during the first quarter valued at about $343,000. Seven Eight Capital LLC acquired a new position in Prospect Capital Corp. during the first quarter valued at $519,000. Mckinley Capital Management LLC Delaware raised its position in Prospect Capital Corp. by 124.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 299,346 shares of the company’s stock valued at $2,176,000 after buying an additional 166,258 shares during the period. James Investment Research Inc. acquired a new position in Prospect Capital Corp. during the second quarter valued at $439,000. Finally, Taylor Frigon Capital Management LLC raised its position in Prospect Capital Corp. by 1.2% in the second quarter. Taylor Frigon Capital Management LLC now owns 117,182 shares of the company’s stock valued at $916,000 after buying an additional 1,418 shares during the period. 11.00% of the stock is owned by institutional investors and hedge funds.

Prospect Capital Corp. Company Profile

Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.

5 Day Chart for NASDAQ:PSEC

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