Prospect Capital (NASDAQ:PSEC – Get Free Report) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.
Separately, Wells Fargo & Company dropped their target price on shares of Prospect Capital from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Friday.
Prospect Capital Trading Up 4.6 %
Shares of Prospect Capital stock traded up $0.23 on Friday, hitting $5.23. 6,410,419 shares of the company traded hands, compared to its average volume of 2,103,568. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.18 billion, a PE ratio of 15.38 and a beta of 1.01. The stock’s 50 day moving average price is $5.31 and its 200-day moving average price is $5.44. Prospect Capital has a 52 week low of $4.69 and a 52 week high of $6.30.
Prospect Capital (NASDAQ:PSEC – Get Free Report) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.07. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. The business had revenue of $212.26 million during the quarter. During the same period last year, the firm earned $0.23 earnings per share.
Insider Buying and Selling at Prospect Capital
In related news, CFO Dask Kristin Lea Van purchased 3,330 shares of Prospect Capital stock in a transaction dated Thursday, June 20th. The stock was purchased at an average cost of $22.50 per share, with a total value of $74,925.00. Following the transaction, 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 the SEC website. Insiders own 26.69% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in Prospect Capital in the second quarter worth $27,000. Headlands Technologies LLC grew its stake in Prospect Capital by 2,266.9% during the 1st quarter. Headlands Technologies LLC now owns 7,574 shares of the financial services provider’s stock worth $42,000 after buying an additional 7,254 shares during the last quarter. Edge Financial Advisors LLC purchased a new position in Prospect Capital during the 1st quarter worth $55,000. Cutter & CO Brokerage Inc. acquired a new position in Prospect Capital during the 1st quarter valued at about $65,000. Finally, Empowered Funds LLC purchased a new stake in Prospect Capital in the first quarter valued at about $73,000. 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.
