Prospect Capital Co. (NASDAQ:PSEC) Receives Average Recommendation of “Sell” from Brokerages

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Prospect Capital Co. (NASDAQ:PSEC) has been assigned an average recommendation of “Sell” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $5.00.

A number of research analysts have recently commented on PSEC shares. TheStreet raised shares of Prospect Capital from a “f” rating to a “b-” rating in a research report on Friday, July 26th. BidaskClub raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Zacks Investment Research raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 10th. ValuEngine cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, National Securities reissued a “sell” rating and set a $4.00 target price on shares of Prospect Capital in a research report on Monday, May 13th.

In related news, CEO John F. Barry purchased 63,496 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were purchased at an average cost of $6.29 per share, with a total value of $399,389.84. Following the completion of the acquisition, the chief executive officer now directly owns 38,364,480 shares of the company’s stock, valued at approximately $241,312,579.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John F. Barry purchased 408,911 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average cost of $6.38 per share, for a total transaction of $2,608,852.18. Following the completion of the acquisition, the chief executive officer now directly owns 38,938,445 shares of the company’s stock, valued at $248,427,279.10. The disclosure for this purchase can be found here. Insiders purchased 610,246 shares of company stock worth $3,882,141 over the last ninety days. 10.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Green Square Asset Management LLC bought a new position in Prospect Capital in the 2nd quarter valued at about $354,000. OneAscent Financial Services LLC bought a new position in shares of Prospect Capital during the 2nd quarter valued at about $204,000. Neo Ivy Capital Management bought a new position in shares of Prospect Capital during the 2nd quarter valued at about $1,035,000. D. E. Shaw & Co. Inc. boosted its position in shares of Prospect Capital by 262.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 122,094 shares of the financial services provider’s stock valued at $797,000 after purchasing an additional 88,452 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Prospect Capital during the 2nd quarter valued at about $448,000. 12.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PSEC traded down $0.02 during trading on Friday, reaching $6.41. 18,228 shares of the stock were exchanged, compared to its average volume of 1,246,005. The business’s 50-day moving average price is $6.60. Prospect Capital has a twelve month low of $5.70 and a twelve month high of $7.60. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. The company has a market cap of $2.36 billion, a P/E ratio of 8.13 and a beta of 0.73.

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.

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