Prospect Capital (NASDAQ:PSEC) Stock Rating Lowered by TheStreet

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Prospect Capital (NASDAQ:PSEC) was downgraded by stock analysts at TheStreet from a “b-” rating to a “f” rating in a report issued on Thursday, TheStreetRatingsTable reports.

A number of other research analysts have also weighed in on the stock. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th. BidaskClub raised shares of Zogenix from a “sell” rating to a “hold” rating in a research note on Thursday, May 9th. Finally, National Securities reiterated a “sell” rating and issued a $4.00 price objective on shares of Prospect Capital in a report on Monday, May 13th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Prospect Capital currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Prospect Capital stock traded up $0.02 during midday trading on Thursday, reaching $6.67. The company had a trading volume of 1,133,031 shares, compared to its average volume of 1,148,927. The company has a market capitalization of $2.44 billion, a P/E ratio of 8.44 and a beta of 0.72. Prospect Capital has a 12-month low of $5.70 and a 12-month high of $7.60. The business has a fifty day moving average of $6.52. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68.

Prospect Capital (NASDAQ:PSEC) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.21 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.21. The firm had revenue of $171.10 million for the quarter, compared to analyst estimates of $173.48 million. Prospect Capital had a net margin of 30.82% and a return on equity of 9.58%. Prospect Capital’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $0.19 EPS. On average, research analysts forecast that Prospect Capital will post 0.86 earnings per share for the current fiscal year.

In other news, insider John F. Barry purchased 137,839 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was acquired at an average price of $6.34 per share, for a total transaction of $873,899.26. Following the acquisition, the insider now directly owns 39,218,728 shares of the company’s stock, valued at $248,646,735.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John F. Barry purchased 408,911 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were purchased at an average price of $6.38 per share, with a total value of $2,608,852.18. Following the acquisition, the chief executive officer now directly owns 38,938,445 shares in the company, valued at $248,427,279.10. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 610,246 shares of company stock valued at $3,882,141. 10.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Camelot Portfolios LLC increased its stake in Prospect Capital by 3.5% in the second quarter. Camelot Portfolios LLC now owns 645,413 shares of the financial services provider’s stock valued at $4,215,000 after purchasing an additional 21,693 shares during the period. Archford Capital Strategies LLC increased its stake in shares of Prospect Capital by 16.8% during the second quarter. Archford Capital Strategies LLC now owns 69,581 shares of the financial services provider’s stock worth $454,000 after acquiring an additional 10,000 shares during the period. KG&L Capital Management LLC acquired a new position in shares of Prospect Capital during the second quarter worth about $76,000. Unigestion Holding SA acquired a new position in shares of Prospect Capital during the second quarter worth about $1,003,000. Finally, DNB Asset Management AS increased its stake in shares of Prospect Capital by 2.0% during the second quarter. DNB Asset Management AS now owns 160,800 shares of the financial services provider’s stock worth $1,050,000 after acquiring an additional 3,200 shares during the period. Institutional investors and hedge funds own 12.19% of the company’s stock.

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.

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