Prospect Capital Corp. (PSEC) Sets New 52-Week High at $8.39
Prospect Capital Corp. (NASDAQ:PSEC) hit a new 52-week high during trading on Monday . The company traded as high as $8.39 and last traded at $8.35, with a volume of 1,113,190 shares. The stock had previously closed at $8.33.
PSEC has been the subject of a number of analyst reports. Zacks Investment Research cut Prospect Capital Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, July 20th. TheStreet raised Prospect Capital Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Vetr raised Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $7.97 price objective for the company in a research note on Monday, June 13th. FBR & Co reaffirmed a “buy” rating on shares of Prospect Capital Corp. in a research note on Thursday, May 12th. Finally, National Securities cut Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 price objective for the company. in a research note on Tuesday, July 19th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. Prospect Capital Corp. presently has an average rating of “Hold” and a consensus target price of $7.77.
The stock’s 50-day moving average price is $7.92 and its 200-day moving average price is $7.23. The firm has a market capitalization of $3.00 billion and a PE ratio of 29.17.
Prospect Capital Corp. (NASDAQ:PSEC) last issued its earnings results on Tuesday, May 10th. The company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by $0.01. During the same quarter in the previous year, the company posted $0.24 earnings per share. The business earned $189.50 million during the quarter, compared to analysts’ expectations of $196.02 million. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts predict that Prospect Capital Corp. will post $1.03 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Wednesday, August 31st will be issued a $0.0833 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.86%. The ex-dividend date of this dividend is Monday, August 29th.
Other hedge funds and institutional investors have recently made changes to their positions in the company. Bank of Montreal Can boosted its position in shares of Prospect Capital Corp. by 134.2% in the fourth quarter. Bank of Montreal Can now owns 4,022,830 shares of the company’s stock worth $28,080,000 after buying an additional 2,305,257 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Prospect Capital Corp. by 344,815.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 155,212 shares of the company’s stock worth $1,083,000 after buying an additional 155,167 shares during the last quarter. Finally, Trust & Fiduciary Management Services Inc. boosted its position in shares of Prospect Capital Corp. by 1.3% in the fourth quarter. Trust & Fiduciary Management Services Inc. now owns 416,550 shares of the company’s stock worth $2,908,000 after buying an additional 5,143 shares during the last quarter.
Prospect Capital Corporation is a financial services company. The Company is a non-diversified closed-end investment company. The Company’s investment objective is to generate both current income and long-term capital appreciation through debt and equity investments. It invests primarily in senior and subordinated debt and equity of private companies in need of capital for acquisitions, divestitures, growth, development, recapitalizations and other purposes.
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