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

Prospect Capital (NASDAQ:PSEC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Separately, Wells Fargo & Company increased their price objective on shares of Prospect Capital from $5.50 to $5.75 and gave the company an “underweight” rating in a research report on Monday, January 29th.

Prospect Capital Stock Performance

Shares of PSEC stock opened at $5.27 on Friday. Prospect Capital has a one year low of $5.03 and a one year high of $6.84. The company’s 50-day moving average is $5.50 and its 200 day moving average is $5.71. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -26.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.22 by $0.02. Prospect Capital had a negative net margin of 1.47% and a positive return on equity of 13.48%. The company had revenue of $210.94 million for the quarter, compared to the consensus estimate of $226.14 million. Sell-side analysts expect that Prospect Capital will post 0.82 EPS for the current fiscal year.

Insider Buying and Selling at Prospect Capital

In related news, CFO Dask Kristin Lea Van bought 5,000 shares of the stock in a transaction on Monday, March 11th. The shares were acquired at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the purchase, the chief financial officer now owns 10,000 shares of the company’s stock, valued at $54,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 26.69% of the company’s stock.

Hedge Funds Weigh In On Prospect Capital

Several institutional investors have recently made changes to their positions in the business. Strategies Wealth Advisors LLC lifted its stake in shares of Prospect Capital by 6.6% in the 1st quarter. Strategies Wealth Advisors LLC now owns 30,621 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 1,902 shares during the period. Roman Butler Fullerton & Co. lifted its stake in shares of Prospect Capital by 3.6% in the 4th quarter. Roman Butler Fullerton & Co. now owns 56,191 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 1,957 shares during the period. Truist Financial Corp lifted its stake in shares of Prospect Capital by 1.0% in the 4th quarter. Truist Financial Corp now owns 193,060 shares of the financial services provider’s stock worth $1,156,000 after purchasing an additional 2,000 shares during the period. Zimmermann Investment Management & Planning LLC lifted its stake in shares of Prospect Capital by 11.2% in the 4th quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 2,024 shares during the period. Finally, Spire Wealth Management lifted its stake in shares of Prospect Capital by 5.7% in the 3rd quarter. Spire Wealth Management now owns 39,900 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 2,161 shares during the period. Institutional investors 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.