Prospect Capital Corporation (NASDAQ:PSEC) has received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $7.64.

A number of brokerages have recently commented on PSEC. Zacks Investment Research raised Prospect Capital Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th. BidaskClub cut Prospect Capital Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $7.00 price target on shares of Prospect Capital Corporation in a research note on Thursday, June 1st. National Securities reaffirmed a “sell” rating and issued a $7.00 price target on shares of Prospect Capital Corporation in a research note on Monday, May 15th. Finally, FBR & Co cut Prospect Capital Corporation from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $9.50 to $8.50 in a research note on Thursday, May 11th.

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In other Prospect Capital Corporation news, CFO Brian H. Oswald purchased 10,547 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was bought at an average cost of $8.07 per share, with a total value of $85,114.29. Following the purchase, the chief financial officer now directly owns 480,000 shares of the company’s stock, valued at $3,873,600. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Brian H. Oswald purchased 4,453 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were acquired at an average cost of $8.05 per share, with a total value of $35,846.65. Following the completion of the purchase, the chief financial officer now directly owns 490,000 shares in the company, valued at $3,944,500. The disclosure for this purchase can be found here. Insiders have bought a total of 20,000 shares of company stock valued at $162,361 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Muzinich & Co. Inc. boosted its position in shares of Prospect Capital Corporation by 58.7% in the first quarter. Muzinich & Co. Inc. now owns 12,063,718 shares of the financial services provider’s stock valued at $109,056,000 after buying an additional 4,460,250 shares in the last quarter. Bank of Montreal Can increased its stake in Prospect Capital Corporation by 4.6% in the second quarter. Bank of Montreal Can now owns 5,892,500 shares of the financial services provider’s stock valued at $47,847,000 after buying an additional 257,000 shares during the last quarter. Van ECK Associates Corp increased its stake in Prospect Capital Corporation by 28.1% in the first quarter. Van ECK Associates Corp now owns 1,897,023 shares of the financial services provider’s stock valued at $17,149,000 after buying an additional 415,831 shares during the last quarter. LSV Asset Management increased its stake in Prospect Capital Corporation by 32.5% in the first quarter. LSV Asset Management now owns 1,775,956 shares of the financial services provider’s stock valued at $16,054,000 after buying an additional 436,101 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its stake in Prospect Capital Corporation by 9.9% in the second quarter. Advisors Asset Management Inc. now owns 1,129,874 shares of the financial services provider’s stock valued at $9,175,000 after buying an additional 101,841 shares during the last quarter. 16.34% of the stock is owned by institutional investors.

Prospect Capital Corporation (NASDAQ:PSEC) traded down 0.061% on Tuesday, hitting $8.175. 1,463,829 shares of the stock traded hands. The company’s 50 day moving average price is $8.14 and its 200-day moving average price is $8.69. Prospect Capital Corporation has a 12-month low of $7.07 and a 12-month high of $9.58.

Prospect Capital Corporation (NASDAQ:PSEC) last announced its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by $0.04. The company had revenue of $171 million during the quarter, compared to the consensus estimate of $185.36 million. Prospect Capital Corporation had a net margin of 40.82% and a return on equity of 9.56%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. Equities analysts forecast that Prospect Capital Corporation will post $0.87 EPS for the current year.

The firm also recently declared a monthly dividend, which was paid on Thursday, July 20th. Stockholders of record on Friday, June 30th were paid a dividend of $0.0833 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.00 annualized dividend and a dividend yield of 12.22%. Prospect Capital Corporation’s dividend payout ratio is currently 120.48%.

About Prospect Capital Corporation

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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