Prospect Capital (NASDAQ:PSEC) Stock Rating Upgraded by StockNews.com

Prospect Capital (NASDAQ:PSEC) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Separately, Wells Fargo & Company decreased their price objective on Prospect Capital from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Friday, August 30th.

Prospect Capital Stock Up 0.2 %

PSEC opened at $4.53 on Friday. The company has a market capitalization of $1.98 billion, a PE ratio of -17.42 and a beta of 0.97. Prospect Capital has a fifty-two week low of $4.15 and a fifty-two week high of $6.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.48 and a quick ratio of 0.48. The business has a 50-day moving average of $4.95 and a 200-day moving average of $5.24.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Friday, November 8th. The financial services provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. The company had revenue of $196.31 million during the quarter. Prospect Capital had a positive return on equity of 12.19% and a negative net margin of 2.23%.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek bought 210,000 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was purchased at an average cost of $4.81 per share, with a total value of $1,010,100.00. Following the completion of the purchase, the chief operating officer now owns 2,131,130 shares in the company, valued at approximately $10,250,735.30. The trade was a 10.93 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO John F. Barry bought 1,000,000 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was acquired at an average cost of $4.78 per share, with a total value of $4,780,000.00. Following the completion of the purchase, the chief executive officer now owns 77,465,298 shares of the company’s stock, valued at approximately $370,284,124.44. This trade represents a 1.31 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 3,273,173 shares of company stock valued at $15,121,420. Company insiders own 27.10% of the company’s stock.

Institutional Trading of Prospect Capital

Institutional investors have recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in shares of Prospect Capital in the second quarter valued at about $27,000. MWA Asset Management bought a new stake in shares of Prospect Capital in the third quarter valued at about $53,000. Global Assets Advisory LLC bought a new stake in shares of Prospect Capital in the third quarter valued at about $64,000. Family Wealth Partners LLC bought a new stake in shares of Prospect Capital in the third quarter valued at about $74,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Prospect Capital by 34.9% in the third quarter. Captrust Financial Advisors now owns 14,247 shares of the financial services provider’s stock valued at $76,000 after purchasing an additional 3,686 shares in the last quarter. 9.06% of the stock is currently owned by institutional investors.

Prospect Capital Company Profile

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnaround, growth capital, development, capital expenditures and subordinated debt tranches of collateralized loan obligations, cash flow term loans, market place lending and bridge transactions.