According to Zacks, “Prospect Capital Corporation is a closed-end investment company that lends to and invests in private and microcap public businesses. Prospect Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments. “
A number of other equities research analysts have also commented on PSEC. ValuEngine raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, TheStreet downgraded shares of Prospect Capital from a “b-” rating to a “c” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Prospect Capital has a consensus rating of “Hold” and a consensus price target of $5.00.
Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, November 6th. The financial services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.14). Prospect Capital had a net margin of 11.49% and a return on equity of 9.05%. The firm had revenue of $161.88 million for the quarter, compared to analyst estimates of $162.98 million. During the same period in the prior year, the company posted $0.23 EPS. As a group, sell-side analysts forecast that Prospect Capital will post 0.72 EPS for the current year.
Several large investors have recently made changes to their positions in the company. Marshall Wace LLP bought a new position in Prospect Capital during the first quarter worth about $269,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Prospect Capital in the second quarter valued at about $117,000. Steward Partners Investment Advisory LLC purchased a new stake in Prospect Capital in the second quarter valued at approximately $63,000. Aperio Group LLC increased its holdings in Prospect Capital by 78.8% in the 2nd quarter. Aperio Group LLC now owns 103,645 shares of the financial services provider’s stock worth $677,000 after buying an additional 45,688 shares during the period. Finally, Vanguard Capital Wealth Advisors boosted its holdings in shares of Prospect Capital by 5.6% in 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 acquiring an additional 8,662 shares during the last quarter. 12.67% of the stock is currently owned by institutional investors.
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.
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