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

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

Separately, Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $5.50 to $5.00 and set an “underweight” rating for the company in a research note on Thursday, May 16th.

Prospect Capital Trading Down 0.2 %

PSEC stock traded down $0.01 during mid-day trading on Thursday, hitting $5.52. 1,360,498 shares of the company were exchanged, compared to its average volume of 1,902,194. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $2.31 billion, a P/E ratio of 16.24 and a beta of 1.01. The business has a fifty day simple moving average of $5.51 and a 200-day simple moving average of $5.67. Prospect Capital has a 12-month low of $5.03 and a 12-month high of $6.69.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $202.22 million during the quarter, compared to analyst estimates of $214.70 million. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%.

Insider Activity

In other Prospect Capital news, CFO Dask Kristin Lea Van acquired 3,330 shares of the stock in a transaction dated Thursday, June 20th. The stock was acquired at an average price of $22.50 per share, with a total value of $74,925.00. Following the completion of the purchase, the chief financial officer now owns 4,539 shares in the company, valued at approximately $102,127.50. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 26.69% of the company’s stock.

Institutional Trading of Prospect Capital

Several hedge funds have recently added to or reduced their stakes in PSEC. Headlands Technologies LLC raised its holdings in Prospect Capital by 2,266.9% in the first quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 7,254 shares in the last quarter. Private Trust Co. NA raised its holdings in Prospect Capital by 54.3% in the fourth quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 2,722 shares in the last quarter. Edge Financial Advisors LLC acquired a new stake in Prospect Capital in the first quarter valued at approximately $55,000. Signaturefd LLC raised its holdings in Prospect Capital by 62.7% in the fourth quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 3,746 shares in the last quarter. Finally, WealthPlan Investment Management LLC acquired a new stake in Prospect Capital during the third quarter worth approximately $62,000. Institutional investors and hedge funds own 9.06% of the company’s stock.

About Prospect Capital

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.