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 report issued on Thursday.

Separately, Wells Fargo & Company dropped 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 Price Performance

Shares of NASDAQ:PSEC traded down $0.01 on Thursday, reaching $5.52. The company’s stock had a trading volume of 1,360,498 shares, compared to its average volume of 1,902,194. Prospect Capital has a 52-week low of $5.03 and a 52-week high of $6.69. The company has a market cap of $2.31 billion, a P/E ratio of 16.24 and a beta of 1.01. The company has a 50-day simple moving average of $5.51 and a 200 day simple moving average of $5.67. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.72 and a current ratio of 0.72.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. The business had revenue of $202.22 million during the quarter, compared to analysts’ expectations of $214.70 million.

Insider Activity at Prospect Capital

In related news, CFO Dask Kristin Lea Van acquired 3,330 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was bought at an average price of $22.50 per share, for a total transaction of $74,925.00. Following the acquisition, the chief financial officer now directly owns 4,539 shares of the company’s stock, valued at approximately $102,127.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.69% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Prospect Capital

Several large investors have recently modified their holdings of PSEC. Headlands Technologies LLC raised its holdings in shares of Prospect Capital by 2,266.9% in the 1st quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 7,254 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Prospect Capital by 54.3% in the 4th quarter. Private Trust Co. NA now owns 7,736 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 2,722 shares in the last quarter. Edge Financial Advisors LLC bought a new stake in shares of Prospect Capital in the 1st quarter valued at about $55,000. Signaturefd LLC raised its holdings in shares of Prospect Capital by 62.7% in the 4th quarter. Signaturefd LLC now owns 9,719 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 3,746 shares in the last quarter. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Prospect Capital in the 3rd quarter valued at about $62,000. Institutional investors own 9.06% of the company’s stock.

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.