Prospect Capital (NASDAQ:PSEC) Lifted to “Hold” at ValuEngine

Prospect Capital (NASDAQ:PSEC) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Tuesday, ValuEngine reports.

A number of other brokerages have also weighed in on PSEC. TheStreet lowered shares of Prospect Capital from a “b-” rating to a “c” rating in a report on Friday, September 13th. Zacks Investment Research lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, BidaskClub lowered shares of Prospect Capital from a “hold” rating to a “sell” rating in a report on Saturday, November 2nd. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the stock. The company has a consensus rating of “Sell” and a consensus target price of $5.00.

Shares of PSEC opened at $6.50 on Tuesday. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 7.65 and a beta of 0.76. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.29 and a current ratio of 1.29. Prospect Capital has a fifty-two week low of $5.70 and a fifty-two week high of $6.97. The firm has a 50 day moving average price of $6.49 and a 200-day moving average price of $6.55.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.14). The business had revenue of $161.88 million during the quarter, compared to the consensus estimate of $162.98 million. Prospect Capital had a return on equity of 9.05% and a net margin of 11.49%. During the same quarter in the previous year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that Prospect Capital will post 0.72 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of PSEC. Marshall Wace LLP purchased a new position in shares of Prospect Capital in the first quarter worth $269,000. Quantitative Systematic Strategies LLC purchased a new position in Prospect Capital during the 2nd quarter valued at $117,000. Steward Partners Investment Advisory LLC purchased a new position in Prospect Capital during the 2nd quarter valued at $63,000. Aperio Group LLC increased its position in Prospect Capital by 78.8% during the 2nd quarter. Aperio Group LLC now owns 103,645 shares of the financial services provider’s stock valued at $677,000 after purchasing an additional 45,688 shares during the period. Finally, Vanguard Capital Wealth Advisors increased its position in Prospect Capital by 5.6% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 163,723 shares of the financial services provider’s stock valued at $1,069,000 after purchasing an additional 8,662 shares during the period. 12.67% of the stock is currently owned by institutional investors.

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.

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