Prospect Capital (NASDAQ:PSEC) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
A number of other equities analysts also recently weighed in on the stock. National Securities lowered their target price on shares of 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 shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Zacks Investment Research upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a report on Wednesday, January 17th. Finally, BMO Capital Markets restated a “hold” rating and set a $7.00 target price on shares of Prospect Capital in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.81.
Shares of Prospect Capital (PSEC) traded down $0.02 on Wednesday, reaching $6.51. 944,749 shares of the company were exchanged, compared to its average volume of 2,058,693. The firm has a market capitalization of $2,350.00, a P/E ratio of 11.42 and a beta of 0.42. Prospect Capital has a fifty-two week low of $5.51 and a fifty-two week high of $9.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.32 and a current ratio of 4.32.
In related news, insider M Grier Eliasek acquired 10,000 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $6.77 per share, for a total transaction of $67,700.00. Following the completion of the acquisition, the insider now directly owns 1,152,196 shares in the company, valued at $7,800,366.92. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO John F. Barry acquired 368,756 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was bought at an average price of $6.82 per share, for a total transaction of $2,514,915.92. Following the completion of the acquisition, the chief executive officer now owns 29,316,954 shares of the company’s stock, valued at $199,941,626.28. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,792,617 shares of company stock worth $19,379,816. Corporate insiders own 7.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the business. PVG Asset Management Corp increased its holdings in shares of Prospect Capital by 99.1% in the fourth quarter. PVG Asset Management Corp now owns 213,308 shares of the financial services provider’s stock valued at $1,438,000 after purchasing an additional 106,180 shares during the last quarter. Vanguard Capital Wealth Advisors acquired a new position in shares of Prospect Capital in the fourth quarter valued at about $796,000. Jane Street Group LLC grew its stake in shares of Prospect Capital by 984.1% in the fourth quarter. Jane Street Group LLC now owns 204,643 shares of the financial services provider’s stock valued at $1,379,000 after acquiring an additional 185,766 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Prospect Capital in the fourth quarter valued at about $3,566,000. Finally, Two Sigma Securities LLC grew its stake in shares of Prospect Capital by 151.4% in the fourth quarter. Two Sigma Securities LLC now owns 64,517 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 38,855 shares in the last quarter. Hedge funds and other institutional investors own 14.33% of the company’s stock.
TRADEMARK VIOLATION WARNING: This report was first reported by American Banking News and is owned by of American Banking News. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2018/03/14/prospect-capital-psec-cut-to-sell-at-bidaskclub.html.
About Prospect Capital
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.
Receive News & Ratings for Prospect Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Prospect Capital and related companies with MarketBeat.com's FREE daily email newsletter.