Prospect Capital’s (PSEC) “Hold” Rating Reaffirmed at BMO Capital Markets

Prospect Capital (NASDAQ:PSEC)‘s stock had its “hold” rating restated by BMO Capital Markets in a report issued on Monday. They presently have a $7.00 target price on the financial services provider’s stock. BMO Capital Markets’ price target would indicate a potential upside of 3.40% from the company’s current price.

Other research analysts also recently issued research reports about the stock. ValuEngine upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub upgraded shares of Prospect Capital from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. TheStreet downgraded shares of Prospect Capital from a “b-” rating to a “c+” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Prospect Capital from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 1st. Finally, National Securities dropped their target price on shares of Prospect Capital from $5.00 to $4.00 and set a “sell” rating on the stock in a report on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a strong buy rating to the company. Prospect Capital presently has a consensus rating of “Hold” and an average target price of $6.50.

Shares of Prospect Capital (NASDAQ PSEC) traded down $0.10 on Monday, reaching $6.77. 2,484,600 shares of the company traded hands, compared to its average volume of 2,331,683. The company has a market cap of $2,430.00, a P/E ratio of 13.27 and a beta of 0.56. Prospect Capital has a 12-month low of $5.51 and a 12-month high of $9.58. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78.

Prospect Capital (NASDAQ:PSEC) last announced its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The firm had revenue of $158.58 million during the quarter, compared to the consensus estimate of $161.00 million. Prospect Capital had a return on equity of 8.63% and a net margin of 27.00%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. equities research analysts forecast that Prospect Capital will post 0.72 EPS for the current year.

In related news, insider M Grier Eliasek purchased 65,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were bought at an average cost of $5.65 per share, for a total transaction of $367,250.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian H. Oswald purchased 35,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was bought at an average price of $5.75 per share, for a total transaction of $201,250.00. The disclosure for this purchase can be found here. Insiders acquired a total of 4,604,521 shares of company stock worth $31,784,051 over the last 90 days. Company insiders own 7.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its position in Prospect Capital by 4.2% in the 3rd quarter. Van ECK Associates Corp now owns 2,404,212 shares of the financial services provider’s stock worth $16,156,000 after purchasing an additional 96,575 shares during the last quarter. Legal & General Group Plc grew its position in Prospect Capital by 8.8% in the 3rd quarter. Legal & General Group Plc now owns 1,047,945 shares of the financial services provider’s stock worth $7,037,000 after purchasing an additional 84,772 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Prospect Capital during the 2nd quarter valued at about $7,697,000. California Public Employees Retirement System boosted its position in shares of Prospect Capital by 5.4% during the 3rd quarter. California Public Employees Retirement System now owns 808,100 shares of the financial services provider’s stock valued at $5,430,000 after acquiring an additional 41,100 shares in the last quarter. Finally, Camelot Portfolios LLC boosted its position in shares of Prospect Capital by 5.1% during the 3rd quarter. Camelot Portfolios LLC now owns 699,153 shares of the financial services provider’s stock valued at $4,698,000 after acquiring an additional 33,830 shares in the last quarter. Institutional investors own 15.60% of the company’s stock.

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Prospect Capital 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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