Prospect Capital (NASDAQ:PSEC) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Prospect Capital Corporation (NASDAQ:PSEC)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.74 and traded as high as $2.81. Prospect Capital shares last traded at $2.73, with a volume of 3,564,508 shares.

Wall Street Analysts Forecast Growth

PSEC has been the subject of several analyst reports. Wall Street Zen downgraded shares of Prospect Capital from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Prospect Capital in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average price target of $2.50.

Prospect Capital Price Performance

The company has a market capitalization of $1.32 billion, a PE ratio of -3.37 and a beta of 0.87. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average is $2.79 and its 200-day moving average is $2.74.

Prospect Capital (NASDAQ:PSEC) last posted its quarterly earnings data on Monday, February 9th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.09. The firm had revenue of $176.00 million during the quarter, compared to analysts’ expectations of $156.34 million. Prospect Capital had a positive return on equity of 11.91% and a negative net margin of 39.56%.

Prospect Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, May 19th. Shareholders of record on Tuesday, April 28th will be paid a dividend of $0.045 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This represents a c) annualized dividend and a dividend yield of 19.8%. Prospect Capital’s dividend payout ratio (DPR) is -66.67%.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, COO M Grier Eliasek acquired 942,800 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was bought at an average price of $2.92 per share, with a total value of $2,752,976.00. Following the purchase, the chief operating officer owned 3,443,930 shares of the company’s stock, valued at approximately $10,056,275.60. This trade represents a 37.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 27.98% of the company’s stock.

Institutional Trading of Prospect Capital

Several hedge funds have recently added to or reduced their stakes in PSEC. Catalyst Financial Partners LLC purchased a new position in shares of Prospect Capital in the fourth quarter worth about $26,000. Bfsg LLC purchased a new position in Prospect Capital in the 4th quarter worth approximately $27,000. Navalign LLC bought a new stake in Prospect Capital in the third quarter valued at approximately $28,000. Ground Swell Capital LLC purchased a new stake in shares of Prospect Capital during the fourth quarter valued at approximately $28,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Prospect Capital in the fourth quarter worth $28,000. 9.06% of the stock is owned by institutional investors.

Prospect Capital Company Profile

Prospect Capital Corporation is a publicly traded business development company listed on the Nasdaq stock exchange that specializes in providing private debt and equity financing solutions to middle-market companies across the United States. Structured as a closed-end, non-diversified management investment company under the Investment Company Act of 1940, Prospect Capital offers investors access to a diversified portfolio of senior secured loans, subordinated debt and selective equity interests in privately held businesses.

Since its founding in 2004, Prospect Capital has focused on tailoring financing structures to meet the growth, acquisition and recapitalization needs of its portfolio companies.