Prospect Capital (PSEC) Downgraded to Sell at BidaskClub
Prospect Capital (NASDAQ:PSEC) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Tuesday.
A number of other research analysts have also recently commented on the company. ValuEngine raised Prospect Capital from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Zacks Investment Research raised Prospect Capital from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Wednesday, January 17th. National Securities reissued a “sell” rating and issued a $4.00 target price on shares of Prospect Capital in a research note on Monday, February 12th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $7.00 target price on shares of Prospect Capital in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. Prospect Capital presently has a consensus rating of “Hold” and an average price target of $6.81.
Shares of PSEC stock opened at $6.39 on Tuesday. The firm has a market capitalization of $2,331.85, a P/E ratio of 7.52 and a beta of 0.42. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.73. Prospect Capital has a 52-week low of $5.51 and a 52-week high of $9.45.
In related news, insider John F. Barry acquired 467,178 shares of Prospect Capital stock in a transaction dated Friday, February 9th. The shares were purchased at an average cost of $6.73 per share, with a total value of $3,144,107.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John F. Barry acquired 48,117 shares of Prospect Capital stock in a transaction dated Thursday, February 22nd. The shares were bought at an average cost of $6.70 per share, for a total transaction of $322,383.90. Following the completion of the purchase, the insider now directly owns 33,671,688 shares of the company’s stock, valued at approximately $225,600,309.60. The disclosure for this purchase can be found here. In the last three months, insiders purchased 954,870 shares of company stock worth $6,357,884. 7.10% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of Prospect Capital during the fourth quarter valued at about $2,544,000. Virtu Financial LLC grew its stake in shares of Prospect Capital by 302.9% during the fourth quarter. Virtu Financial LLC now owns 294,330 shares of the financial services provider’s stock valued at $1,984,000 after buying an additional 221,274 shares during the last quarter. Eqis Capital Management Inc. grew its stake in shares of Prospect Capital by 266.2% during the fourth quarter. Eqis Capital Management Inc. now owns 438,826 shares of the financial services provider’s stock valued at $2,958,000 after buying an additional 319,001 shares during the last quarter. Prime Capital Investment Advisors LLC bought a new position in shares of Prospect Capital during the fourth quarter valued at about $130,000. Finally, Aperio Group LLC grew its stake in shares of Prospect Capital by 51.6% during the fourth quarter. Aperio Group LLC now owns 62,741 shares of the financial services provider’s stock valued at $423,000 after buying an additional 21,357 shares during the last quarter. 14.08% of the stock is currently owned by hedge funds and other institutional investors.
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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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