Prospect Capital (NASDAQ:PSEC) Stock Rating Upgraded by Wall Street Zen

Prospect Capital (NASDAQ:PSEC) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Wells Fargo & Company cut their price objective on Prospect Capital from $3.00 to $2.50 and set an “underweight” rating for the company in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell” and an average price target of $2.50.

Prospect Capital Price Performance

Prospect Capital stock opened at $2.61 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $1.21 billion, a PE ratio of -1.95 and a beta of 0.85. Prospect Capital has a one year low of $2.57 and a one year high of $5.41. The business has a 50 day simple moving average of $2.91 and a 200 day simple moving average of $3.33.

Prospect Capital (NASDAQ:PSEC) last posted its earnings results on Tuesday, August 26th. The financial services provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $166.95 million during the quarter, compared to the consensus estimate of $167.08 million. Prospect Capital had a positive return on equity of 12.14% and a negative net margin of 69.68%.

Insider Buying and Selling at Prospect Capital

In other news, CEO John F. Barry acquired 741,158 shares of Prospect Capital stock in a transaction dated Wednesday, September 24th. The stock was bought at an average cost of $2.62 per share, with a total value of $1,941,833.96. Following the completion of the transaction, the chief executive officer directly owned 85,142,158 shares of the company’s stock, valued at approximately $223,072,453.96. This represents a 0.88% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought 1,502,158 shares of company stock worth $3,966,419 over the last ninety days. 27.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Newbridge Financial Services Group Inc. acquired a new position in shares of Prospect Capital during the second quarter worth about $344,000. Tactive Advisors LLC acquired a new position in shares of Prospect Capital during the second quarter worth about $1,864,000. Caxton Associates LLP boosted its position in shares of Prospect Capital by 86.5% during the second quarter. Caxton Associates LLP now owns 690,059 shares of the financial services provider’s stock worth $2,194,000 after buying an additional 319,984 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Prospect Capital by 5.2% during the second quarter. CANADA LIFE ASSURANCE Co now owns 319,545 shares of the financial services provider’s stock worth $1,015,000 after buying an additional 15,909 shares during the period. Finally, Captrust Financial Advisors boosted its position in shares of Prospect Capital by 92.2% during the second quarter. Captrust Financial Advisors now owns 24,568 shares of the financial services provider’s stock worth $78,000 after buying an additional 11,788 shares during the period. 9.06% of the stock is owned by institutional investors and hedge funds.

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.