BidaskClub lowered shares of Prospect Capital (NASDAQ:PSEC) from a hold rating to a sell rating in a report released on Friday.

A number of other research firms have also recently commented on PSEC. ValuEngine upgraded Prospect Capital from a buy rating to a strong-buy rating in a research note on Friday, December 22nd. 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. Zacks Investment Research upgraded Prospect Capital from a hold rating to a buy rating and set a $7.75 price target for the company in a research note on Wednesday. TheStreet cut Prospect Capital from a b- rating to a c+ rating in a research note on Wednesday, September 27th. Finally, National Securities decreased their price target on Prospect Capital from $6.00 to $5.00 and set a sell rating for the company in a research note on Thursday, October 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $6.81.

Shares of Prospect Capital (NASDAQ:PSEC) traded up $0.05 during mid-day trading on Friday, reaching $6.85. The company had a trading volume of 1,270,000 shares, compared to its average volume of 2,630,000. Prospect Capital has a 12 month low of $5.51 and a 12 month high of $9.58. The company has a market capitalization of $2,490.00, a P/E ratio of 13.43 and a beta of 0.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.63 and a current ratio of 2.63.

Prospect Capital (NASDAQ:PSEC) last released its quarterly earnings results on Wednesday, November 8th. The financial services provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The business had revenue of $158.58 million during the quarter, compared to analysts’ expectations of $161.00 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. sell-side analysts predict that Prospect Capital will post 0.72 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.06 dividend. This represents a $0.72 annualized dividend and a dividend yield of 10.51%. The ex-dividend date is Tuesday, January 30th. Prospect Capital’s payout ratio is 141.18%.

In other news, CEO John F. Barry acquired 170,460 shares of Prospect Capital stock in a transaction dated Thursday, November 30th. The stock was purchased at an average cost of $6.86 per share, for a total transaction of $1,169,355.60. Following the completion of the purchase, the chief executive officer now directly owns 27,031,950 shares in the company, valued at approximately $185,439,177. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian H. Oswald acquired 35,000 shares of Prospect Capital stock in a transaction dated Friday, November 10th. The stock was purchased at an average price of $5.75 per share, with a total value of $201,250.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 4,604,521 shares of company stock valued at $31,784,051. Company insiders own 7.10% of the company’s stock.

Large investors have recently made changes to their positions in the company. Trexquant Investment LP purchased a new position in shares of Prospect Capital in the third quarter worth about $108,000. Advisory Services Network LLC raised its stake in shares of Prospect Capital by 0.6% in the second quarter. Advisory Services Network LLC now owns 17,741 shares of the financial services provider’s stock worth $144,000 after purchasing an additional 105 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Prospect Capital in the third quarter worth about $127,000. Verition Fund Management LLC raised its stake in shares of Prospect Capital by 86.0% in the second quarter. Verition Fund Management LLC now owns 25,520 shares of the financial services provider’s stock worth $207,000 after purchasing an additional 11,803 shares during the last quarter. Finally, Global X MANAGEMENT CO LLC raised its stake in shares of Prospect Capital by 70.9% in the third quarter. Global X MANAGEMENT CO LLC now owns 26,456 shares of the financial services provider’s stock worth $178,000 after purchasing an additional 10,977 shares during the last quarter. Hedge funds and other institutional investors own 15.60% 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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