Prospect Capital (NASDAQ:PSEC) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Prospect Capital Corporation (NASDAQ:PSEC) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.74 and traded as high as $2.81. Prospect Capital shares last traded at $2.73, with a volume of 3,564,508 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PSEC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Prospect Capital in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Two research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $2.50.

Prospect Capital Stock Down 1.4%

The firm has a market cap of $1.32 billion, a P/E ratio of -3.37 and a beta of 0.87. The firm’s fifty day moving average is $2.78 and its 200 day moving average is $2.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.74 and a current ratio of 0.74.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.09. Prospect Capital had a negative net margin of 39.56% and a positive return on equity of 11.91%. The firm had revenue of $176.00 million during the quarter, compared to the consensus estimate of $156.34 million.

Prospect Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, April 28th will be issued a $0.045 dividend. This represents a c) dividend on an annualized basis and a yield of 19.8%. The ex-dividend date of this dividend is Tuesday, April 28th. Prospect Capital’s dividend payout ratio is currently -66.67%.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek bought 942,800 shares of Prospect Capital stock in a transaction dated Wednesday, February 11th. The stock was bought at an average price of $2.92 per share, with a total value of $2,752,976.00. Following the completion of the transaction, the chief operating officer owned 3,443,930 shares in the company, valued at $10,056,275.60. The trade was a 37.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 27.98% of the company’s stock.

Institutional Trading of Prospect Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its stake in shares of Prospect Capital by 356.3% in the third quarter. Millennium Management LLC now owns 6,231,987 shares of the financial services provider’s stock valued at $17,138,000 after buying an additional 4,866,312 shares during the period. Marshall Wace LLP bought a new stake in shares of Prospect Capital during the 2nd quarter valued at $12,424,000. Private Management Group Inc. acquired a new stake in shares of Prospect Capital during the 4th quarter worth $8,352,000. Balyasny Asset Management L.P. increased its position in shares of Prospect Capital by 73.9% in the second quarter. Balyasny Asset Management L.P. now owns 5,661,121 shares of the financial services provider’s stock worth $18,002,000 after purchasing an additional 2,405,299 shares during the period. Finally, Two Sigma Investments LP raised its stake in Prospect Capital by 99.9% in the third quarter. Two Sigma Investments LP now owns 4,096,924 shares of the financial services provider’s stock valued at $11,267,000 after purchasing an additional 2,047,189 shares in the last quarter. Institutional investors and hedge funds own 9.06% of the company’s stock.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.