Prospect Capital (NASDAQ:PSEC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Prospect Capital Corporation (NASDAQ:PSEC)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $2.83 and traded as high as $2.97. Prospect Capital shares last traded at $2.95, with a volume of 4,600,031 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSEC shares. Wall Street Zen raised shares of Prospect Capital from a “hold” rating to a “buy” rating in a report on Saturday, December 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Prospect Capital in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Prospect Capital presently has a consensus rating of “Sell” and a consensus target price of $2.50.

Prospect Capital Stock Up 5.4%

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -3.43 and a beta of 0.85. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $2.65 and a 200 day moving average price of $2.83.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Thursday, November 6th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.06. Prospect Capital had a negative net margin of 42.50% and a positive return on equity of 12.29%. The business had revenue of $119.44 million during the quarter, compared to analyst estimates of $169.53 million.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, February 18th. Stockholders of record on Wednesday, January 28th will be issued a dividend of $0.045 per share. This represents a c) dividend on an annualized basis and a dividend yield of 18.3%. The ex-dividend date is Wednesday, January 28th. Prospect Capital’s payout ratio is -62.79%.

Institutional Trading of Prospect Capital

A number of institutional investors and hedge funds have recently bought and sold shares of PSEC. Private Trust Co. NA raised its position in Prospect Capital by 38.5% during the 2nd quarter. Private Trust Co. NA now owns 11,639 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 3,238 shares during the last quarter. Raymond James Financial Inc. increased its stake in shares of Prospect Capital by 0.5% in the second quarter. Raymond James Financial Inc. now owns 844,465 shares of the financial services provider’s stock valued at $2,685,000 after buying an additional 3,880 shares during the period. Inspire Advisors LLC raised its position in shares of Prospect Capital by 17.1% during the second quarter. Inspire Advisors LLC now owns 27,432 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 4,015 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Prospect Capital by 1.3% in the second quarter. D.A. Davidson & CO. now owns 351,494 shares of the financial services provider’s stock worth $1,118,000 after acquiring an additional 4,613 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Prospect Capital by 1.9% in the second quarter. Cetera Investment Advisers now owns 262,719 shares of the financial services provider’s stock worth $835,000 after acquiring an additional 4,978 shares during the period. 9.06% of the stock is currently owned by institutional investors and hedge funds.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.