StockNews.com Upgrades Prospect Capital (NASDAQ:PSEC) to “Hold”

Prospect Capital (NASDAQ:PSEC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Wells Fargo & Company upped their price target on shares of Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a report on Monday, January 29th.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $5.27 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average of $5.50 and a two-hundred day moving average of $5.71. The company has a market cap of $2.19 billion, a P/E ratio of -26.35 and a beta of 1.00. Prospect Capital has a 52 week low of $5.03 and a 52 week high of $6.84.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The business had revenue of $210.94 million for the quarter, compared to analysts’ expectations of $226.14 million. As a group, analysts anticipate that Prospect Capital will post 0.82 EPS for the current year.

Insider Buying and Selling at Prospect Capital

In related news, CFO Dask Kristin Lea Van acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were acquired at an average cost of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $54,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.69% of the company’s stock.

Institutional Investors Weigh In On Prospect Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSEC. Sage Mountain Advisors LLC acquired a new position in shares of Prospect Capital during the 1st quarter worth approximately $143,000. Strategic Financial Concepts LLC acquired a new position in shares of Prospect Capital during the 1st quarter worth approximately $100,000. Strategies Wealth Advisors LLC grew its position in shares of Prospect Capital by 6.6% during the 1st quarter. Strategies Wealth Advisors LLC now owns 30,621 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 1,902 shares in the last quarter. Edge Financial Advisors LLC bought a new stake in shares of Prospect Capital during the 1st quarter worth approximately $55,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in shares of Prospect Capital during the 1st quarter worth approximately $82,000. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.