Prospect Capital (NASDAQ:PSEC) Upgraded at StockNews.com

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

Separately, Wells Fargo & Company raised their price target on Prospect Capital from $5.50 to $5.75 and gave the stock an “underweight” rating in a research report on Monday, January 29th.

Prospect Capital Trading Up 0.6 %

PSEC traded up $0.03 during mid-day trading on Friday, reaching $5.27. The stock had a trading volume of 2,394,604 shares, compared to its average volume of 2,072,857. The stock has a market capitalization of $2.19 billion, a P/E ratio of -26.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s fifty day simple moving average is $5.50 and its two-hundred day simple moving average is $5.71. Prospect Capital has a 52 week low of $5.03 and a 52 week high of $6.84.

Prospect Capital (NASDAQ:PSEC) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The firm had revenue of $210.94 million for the quarter, compared to analyst estimates of $226.14 million. Prospect Capital had a positive return on equity of 13.48% and a negative net margin of 1.47%. On average, equities analysts predict that Prospect Capital will post 0.82 EPS for the current year.

Insider Activity at Prospect Capital

In related news, CFO Dask Kristin Lea Van acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average price of $5.44 per share, for a total transaction of $27,200.00. Following the completion of the acquisition, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $54,400. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.69% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Prospect Capital

Several large investors have recently modified their holdings of the business. Strategies Wealth Advisors LLC increased its holdings in shares of Prospect Capital by 6.6% in the first quarter. Strategies Wealth Advisors LLC now owns 30,621 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 1,902 shares in the last quarter. Roman Butler Fullerton & Co. boosted its position in shares of Prospect Capital by 3.6% during the fourth quarter. Roman Butler Fullerton & Co. now owns 56,191 shares of the financial services provider’s stock worth $348,000 after buying an additional 1,957 shares during the period. Truist Financial Corp boosted its position in shares of Prospect Capital by 1.0% during the fourth quarter. Truist Financial Corp now owns 193,060 shares of the financial services provider’s stock worth $1,156,000 after buying an additional 2,000 shares during the period. Zimmermann Investment Management & Planning LLC boosted its position in shares of Prospect Capital by 11.2% during the fourth quarter. Zimmermann Investment Management & Planning LLC now owns 20,077 shares of the financial services provider’s stock worth $120,000 after buying an additional 2,024 shares during the period. Finally, Spire Wealth Management boosted its position in shares of Prospect Capital by 5.7% during the third quarter. Spire Wealth Management now owns 39,900 shares of the financial services provider’s stock worth $241,000 after buying an additional 2,161 shares during the period. 9.06% of the stock is currently owned by institutional investors.

About Prospect Capital

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.