Prospect Capital (PSEC) Upgraded at ValuEngine
Prospect Capital (NASDAQ:PSEC) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
Other equities analysts have also recently issued research reports about the stock. TheStreet cut shares of Prospect Capital from a “b-” rating to a “c+” rating in a research report on Wednesday, September 27th. Zacks Investment Research raised shares of Prospect Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 1st. UBS raised shares of Prospect Capital from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Raymond James Financial raised shares of Prospect Capital from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 30th. Finally, BMO Capital Markets dropped their price target on shares of Prospect Capital from $7.00 to $6.00 and set a “market perform” rating on the stock in a research report on Friday, November 10th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $6.17.
Prospect Capital (NASDAQ PSEC) traded down $0.06 during mid-day trading on Friday, hitting $6.79. 3,726,834 shares of the stock were exchanged, compared to its average volume of 4,954,477. The company has a market cap of $2,468.70, a PE ratio of 8.46 and a beta of 0.55. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78. Prospect Capital has a one year low of $5.51 and a one year high of $9.58.
In other Prospect Capital news, CFO Brian H. Oswald purchased 35,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average price of $5.75 per share, with a total value of $201,250.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO M Grier Eliasek purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was acquired at an average cost of $6.89 per share, for a total transaction of $68,900.00. Following the transaction, the chief operating officer now owns 1,003,990 shares in the company, valued at approximately $6,917,491.10. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 1,634,820 shares of company stock worth $11,123,102. 7.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership purchased a new stake in Prospect Capital in the 2nd quarter valued at about $7,697,000. Penn Mutual Life Insurance Co purchased a new stake in Prospect Capital in the 3rd quarter valued at about $3,992,000. Cowen Inc. increased its stake in Prospect Capital by 200.0% in the 3rd quarter. Cowen Inc. now owns 248,000 shares of the financial services provider’s stock valued at $1,667,000 after buying an additional 496,000 shares during the last quarter. Van ECK Associates Corp increased its stake in Prospect Capital by 21.6% in the 2nd quarter. Van ECK Associates Corp now owns 2,307,637 shares of the financial services provider’s stock valued at $18,738,000 after buying an additional 410,614 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in Prospect Capital in the 3rd quarter valued at about $1,385,000. 15.82% of the stock is currently owned by institutional investors and hedge funds.
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Prospect Capital 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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