Prospect Capital Corp. (PSEC) Reaches New 12-Month High at $8.47
Shares of Prospect Capital Corp. (NASDAQ:PSEC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $8.47 and last traded at $8.45, with a volume of 1,404,694 shares changing hands. The stock had previously closed at $8.34.
PSEC has been the topic of a number of research reports. Vetr cut Prospect Capital Corp. from a “hold” rating to a “sell” rating and set a $8.11 price objective on the stock. in a report on Monday. Zacks Investment Research raised Prospect Capital Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. National Securities cut Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 price objective on the stock. in a report on Tuesday, July 19th. Deutsche Bank AG cut Prospect Capital Corp. from a “buy” rating to a “hold” rating and decreased their price objective for the company from $8.50 to $7.00 in a report on Thursday, April 28th. Finally, FBR & Co reissued a “buy” rating on shares of Prospect Capital Corp. in a report on Thursday, May 12th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $7.79.
The company has a market cap of $3.00 billion and a price-to-earnings ratio of 29.13. The company has a 50-day moving average price of $8.16 and a 200 day moving average price of $7.44.
An institutional investor recently bought a new position in Prospect Capital Corp. stock. Cambria Investment Management L.P. acquired a new position in shares of Prospect Capital Corp. (NASDAQ:PSEC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 176,786 shares of the company’s stock, valued at approximately $1,234,000.
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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