Prospect Capital Corporation (NASDAQ:PSEC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Wednesday.

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. “

Several other brokerages have also recently commented on PSEC. BidaskClub cut Prospect Capital Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 17th. National Securities decreased their target price on Prospect Capital Corporation from $7.00 to $6.00 and set a “sell” rating on the stock in a report on Wednesday, August 30th. Raymond James Financial, Inc. upgraded Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. UBS AG upgraded Prospect Capital Corporation from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 30th. Finally, TheStreet cut Prospect Capital Corporation from a “b-” rating to a “c+” rating in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.83.

Shares of Prospect Capital Corporation (NASDAQ PSEC) opened at 5.99 on Wednesday. The firm’s 50-day moving average is $6.51 and its 200 day moving average is $7.70. Prospect Capital Corporation has a 1-year low of $5.96 and a 1-year high of $9.58.

Prospect Capital Corporation (NASDAQ:PSEC) last released its quarterly earnings data on Monday, August 28th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $166.70 million for the quarter, compared to analyst estimates of $177.21 million. Prospect Capital Corporation had a return on equity of 8.98% and a net margin of 36.08%. The business’s revenue was down 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, analysts expect that Prospect Capital Corporation will post $0.78 earnings per share for the current fiscal year.

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In other Prospect Capital Corporation news, CFO Brian H. Oswald bought 50,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were bought at an average price of $6.73 per share, for a total transaction of $336,500.00. Following the completion of the acquisition, the chief financial officer now owns 493,373 shares of the company’s stock, valued at $3,320,400.29. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.10% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in Prospect Capital Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 70 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Prospect Capital Corporation by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 105 shares during the last quarter. Essex Financial Services Inc. boosted its holdings in Prospect Capital Corporation by 0.7% in the second quarter. Essex Financial Services Inc. now owns 45,438 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 323 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Prospect Capital Corporation by 1.3% in the second quarter. D.A. Davidson & CO. now owns 57,013 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 753 shares during the last quarter. Finally, Green Square Capital LLC boosted its holdings in Prospect Capital Corporation by 2.1% in the second quarter. Green Square Capital LLC now owns 43,685 shares of the financial services provider’s stock valued at $355,000 after acquiring an additional 908 shares during the last quarter. Institutional investors and hedge funds own 15.20% of the company’s stock.

Prospect Capital Corporation Company Profile

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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