BidaskClub lowered shares of Prospect Capital Corporation (NASDAQ:PSEC) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
PSEC has been the topic of a number of other research reports. Zacks Investment Research raised Prospect Capital Corporation from a sell rating to a hold rating in a research note on Wednesday, July 26th. National Securities reaffirmed a sell rating and issued a $7.00 price objective on shares of Prospect Capital Corporation in a research note on Monday, May 15th. BMO Capital Markets reaffirmed a hold rating and issued a $7.00 price objective on shares of Prospect Capital Corporation in a research note on Thursday, June 1st. Finally, FBR & Co downgraded Prospect Capital Corporation from an outperform rating to a market perform rating and reduced their price objective for the stock from $9.50 to $8.50 in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Prospect Capital Corporation currently has an average rating of Hold and a consensus price target of $8.04.
Prospect Capital Corporation (NASDAQ PSEC) traded down 3.76% during mid-day trading on Tuesday, hitting $7.17. The stock had a trading volume of 2,810,243 shares. The stock’s 50-day moving average price is $8.10 and its 200-day moving average price is $8.63. Prospect Capital Corporation has a 12 month low of $7.07 and a 12 month high of $9.58.
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Several institutional investors have recently made changes to their positions in PSEC. Advisors Asset Management Inc. boosted its position in Prospect Capital Corporation by 14.5% in the first quarter. Advisors Asset Management Inc. now owns 1,028,033 shares of the financial services provider’s stock worth $9,293,000 after buying an additional 130,088 shares during the last quarter. LSV Asset Management boosted its position in Prospect Capital Corporation by 32.5% in the first quarter. LSV Asset Management now owns 1,775,956 shares of the financial services provider’s stock worth $16,054,000 after buying an additional 436,101 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Prospect Capital Corporation by 6.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,152 shares of the financial services provider’s stock worth $164,000 after buying an additional 1,023 shares during the last quarter. Eqis Capital Management Inc. boosted its position in Prospect Capital Corporation by 7.1% in the first quarter. Eqis Capital Management Inc. now owns 101,368 shares of the financial services provider’s stock worth $916,000 after buying an additional 6,683 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its position in Prospect Capital Corporation by 1.5% in the first quarter. Alpha Omega Wealth Management LLC now owns 71,175 shares of the financial services provider’s stock worth $643,000 after buying an additional 1,027 shares during the last quarter. Hedge funds and other institutional investors own 16.45% of the company’s stock.
Prospect Capital Corporation Company Profile
Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.
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