Prospect Capital (PSEC) Downgraded by BidaskClub to Sell

Prospect Capital (NASDAQ:PSEC) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday.

PSEC has been the topic of several other research reports. National Securities cut their price objective on Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, November 14th. ValuEngine upgraded Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BMO Capital Markets reiterated a “hold” rating and issued a $7.00 price objective on shares of Prospect Capital in a report on Monday, January 8th. Zacks Investment Research upgraded Prospect Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, TheStreet downgraded Prospect Capital 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, five have assigned a hold rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.81.

Prospect Capital (NASDAQ PSEC) traded up $0.05 during trading hours on Friday, reaching $6.85. The company’s stock had a trading volume of 1,267,008 shares, compared to its average volume of 2,191,098. Prospect Capital has a 12 month low of $5.51 and a 12 month high of $9.58. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.63 and a quick ratio of 2.63. The stock has a market capitalization of $2,468.70, a P/E ratio of 13.70 and a beta of 0.56.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). The business had revenue of $158.58 million during the quarter, compared to analysts’ expectations of $161.00 million. Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. Prospect Capital’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.22 EPS. equities analysts expect that Prospect Capital will post 0.72 EPS for the current year.

In related news, CFO Brian H. Oswald purchased 35,000 shares of the business’s stock in a transaction on Friday, November 10th. The shares were bought at an average price of $5.75 per share, for a total transaction of $201,250.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John F. Barry purchased 170,460 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were bought at an average price of $6.86 per share, for a total transaction of $1,169,355.60. Following the acquisition, the chief executive officer now owns 27,031,950 shares in the company, valued at $185,439,177. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 4,604,521 shares of company stock worth $31,784,051. 7.10% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its position in shares of Prospect Capital by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 26,791 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 70 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of Prospect Capital by 0.6% during the 2nd quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after acquiring an additional 105 shares in the last quarter. D.A. Davidson & CO. boosted its position in shares of Prospect Capital by 1.3% during the 2nd quarter. D.A. Davidson & CO. now owns 57,013 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 753 shares in the last quarter. Green Square Capital LLC boosted its position in shares of Prospect Capital by 2.1% during the 2nd quarter. Green Square Capital LLC now owns 43,685 shares of the financial services provider’s stock worth $355,000 after acquiring an additional 908 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its position in shares of Prospect Capital by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 74,829 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 964 shares in the last quarter. 15.60% of the stock is 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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