Prospect Capital (NASDAQ:PSEC) Share Price Passes Above 200 Day Moving Average – What’s Next?

Shares of Prospect Capital Corporation (NASDAQ:PSEC) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.74 and traded as high as $2.81. Prospect Capital shares last traded at $2.73, with a volume of 3,564,508 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSEC shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Wall Street Zen downgraded Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus price target of $2.50.

Prospect Capital Trading Down 1.4%

The business’s 50 day simple moving average is $2.78 and its two-hundred day simple moving average is $2.74. The stock has a market cap of $1.32 billion, a P/E ratio of -3.37 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.62.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.09. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.The company had revenue of $176.00 million for the quarter, compared to the consensus estimate of $156.34 million.

Prospect Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, April 28th will be paid a $0.045 dividend. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a c) annualized dividend and a dividend yield of 19.8%. Prospect Capital’s dividend payout ratio is currently -66.67%.

Insider Buying and Selling

In other Prospect Capital news, COO M Grier Eliasek bought 942,800 shares of Prospect Capital stock in a transaction on Wednesday, February 11th. The shares were purchased at an average cost of $2.92 per share, with a total value of $2,752,976.00. Following the acquisition, the chief operating officer directly owned 3,443,930 shares of the company’s stock, valued at $10,056,275.60. The trade was a 37.69% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 27.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Prospect Capital

Hedge funds have recently modified their holdings of the business. Catalyst Financial Partners LLC bought a new stake in shares of Prospect Capital in the fourth quarter worth $26,000. Navalign LLC bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $28,000. Bfsg LLC acquired a new stake in shares of Prospect Capital in the fourth quarter valued at about $27,000. Ground Swell Capital LLC bought a new position in shares of Prospect Capital during the fourth quarter worth about $28,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Prospect Capital during the fourth quarter worth about $28,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

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.