Prospect Capital Corp. (NASDAQ:PSEC) has earned a consensus rating of “Hold” from the twelve analysts that are presently covering the company. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $7.61.
PSEC has been the topic of several recent research reports. Vetr upgraded Prospect Capital Corp. from a “hold” rating to a “buy” rating and set a $8.72 target price on the stock in a report on Wednesday. Barclays PLC restated an “equal weight” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. FBR & Co restated an “outperform” rating and set a $10.00 target price (up from $9.00) on shares of Prospect Capital Corp. in a report on Wednesday, August 31st. BMO Capital Markets restated a “market perform” rating and set a $7.00 target price on shares of Prospect Capital Corp. in a report on Thursday, September 1st. Finally, National Securities lowered Prospect Capital Corp. from a “neutral” rating to a “sell” rating and set a $7.00 target price on the stock. in a report on Tuesday, July 19th.
Prospect Capital Corp. (NASDAQ:PSEC) opened at 8.25 on Monday. Prospect Capital Corp. has a 12-month low of $5.21 and a 12-month high of $8.68. The company has a market cap of $2.95 billion, a P/E ratio of 28.45 and a beta of 0.62. The firm’s 50-day moving average price is $8.31 and its 200-day moving average price is $7.78.
Prospect Capital Corp. (NASDAQ:PSEC) last released its quarterly earnings data on Monday, August 29th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The firm earned $193.04 million during the quarter. Prospect Capital Corp. had a return on equity of 10.47% and a net margin of 13.05%. Prospect Capital Corp.’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.25 EPS. Analysts expect that Prospect Capital Corp. will post $0.99 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a dividend of $0.0833 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.00 annualized dividend and a yield of 12.12%. Prospect Capital Corp.’s dividend payout ratio is 344.83%.
In other news, CFO Brian H. Oswald purchased 4,000 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were purchased at an average cost of $7.85 per share, for a total transaction of $31,400.00. Following the completion of the purchase, the chief financial officer now directly owns 480,000 shares of the company’s stock, valued at approximately $3,768,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.60% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can purchased a new position in shares of Prospect Capital Corp. during the second quarter valued at about $32,490,000. RPG Investment Advisory LLC purchased a new position in shares of Prospect Capital Corp. during the second quarter valued at about $4,307,000. BlackRock Group LTD raised its position in shares of Prospect Capital Corp. by 14.6% in the second quarter. BlackRock Group LTD now owns 1,780,873 shares of the company’s stock valued at $13,926,000 after buying an additional 226,465 shares in the last quarter. LSV Asset Management raised its position in shares of Prospect Capital Corp. by 15.8% in the second quarter. LSV Asset Management now owns 1,278,855 shares of the company’s stock valued at $10,000,000 after buying an additional 174,599 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its stake in Prospect Capital Corp. by 124.9% in the first quarter. Mckinley Capital Management LLC Delaware now owns 299,346 shares of the company’s stock worth $2,176,000 after buying an additional 166,258 shares during the last quarter. Hedge funds and other institutional investors own 11.00% of the company’s stock.
About Prospect Capital Corp.
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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