Prospect Capital (NASDAQ:PSEC) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Wednesday.
A number of other research analysts have also recently weighed in on the stock. ValuEngine upgraded shares of Prospect Capital from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Wednesday, January 17th. National Securities reiterated a “sell” rating and issued a $4.00 price target on shares of Prospect Capital in a research note on Monday, February 12th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $7.00 price target on shares of Prospect Capital in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $6.81.
PSEC stock opened at $6.70 on Wednesday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 4.32 and a current ratio of 4.32. Prospect Capital has a one year low of $5.51 and a one year high of $9.45. The firm has a market cap of $2,353.54, a price-to-earnings ratio of 12.07 and a beta of 0.42.
In related news, insider John F. Barry purchased 48,117 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were acquired at an average price of $6.70 per share, for a total transaction of $322,383.90. Following the purchase, the insider now directly owns 33,671,688 shares in the company, valued at $225,600,309.60. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John F. Barry purchased 84,100 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was bought at an average price of $6.49 per share, for a total transaction of $545,809.00. Following the purchase, the insider now owns 34,284,671 shares in the company, valued at $222,507,514.79. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 950,387 shares of company stock worth $6,328,744. Corporate insiders own 7.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Wesbanco Bank Inc. purchased a new stake in Prospect Capital in the 4th quarter worth $107,000. Trexquant Investment LP bought a new stake in shares of Prospect Capital in the 3rd quarter worth about $108,000. Kovack Advisors Inc. bought a new stake in shares of Prospect Capital in the 4th quarter worth about $111,000. Jane Street Group LLC bought a new stake in shares of Prospect Capital in the 3rd quarter worth about $127,000. Finally, Prime Capital Investment Advisors LLC bought a new stake in shares of Prospect Capital in the 4th quarter worth about $130,000. Institutional investors and hedge funds own 14.17% of the company’s stock.
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About Prospect Capital
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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