Prospect Capital (PSEC) Given “Hold” Rating at BMO Capital Markets

BMO Capital Markets reissued their hold rating on shares of Prospect Capital (NASDAQ:PSEC) in a research note issued to investors on Monday, January 8th. BMO Capital Markets currently has a $7.00 target price on the financial services provider’s stock.

PSEC has been the topic of a number of other research reports. National Securities reduced their target price on Prospect Capital from $5.00 to $4.00 and set a sell rating on the stock in a report on Tuesday, November 14th. ValuEngine upgraded Prospect Capital from a hold rating to a buy rating in a research note on Friday, December 1st. BidaskClub cut Prospect Capital from a buy rating to a hold rating in a research note on Thursday, January 4th. Zacks Investment Research upgraded Prospect Capital from a strong sell rating to a hold rating in a research note on Wednesday, November 1st. Finally, TheStreet cut Prospect Capital from a b- rating to a c+ rating in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $6.81.

Shares of Prospect Capital (PSEC) traded down $0.09 during trading on Monday, reaching $6.76. The company had a trading volume of 1,882,600 shares, compared to its average volume of 2,760,000. Prospect Capital has a 52-week low of $5.51 and a 52-week high of $9.58. The firm has a market capitalization of $2,440.00, a PE ratio of 13.25 and a beta of 0.56. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.78.

Prospect Capital (NASDAQ:PSEC) last issued its earnings results on Wednesday, November 8th. The financial services provider reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Prospect Capital had a net margin of 27.00% and a return on equity of 8.63%. The firm had revenue of $158.58 million during the quarter, compared to analyst estimates of $161.00 million. During the same quarter in the previous year, the business posted $0.22 EPS. Prospect Capital’s revenue was down 11.8% compared to the same quarter last year. analysts predict that Prospect Capital will post 0.72 EPS for the current fiscal year.

The business also recently disclosed a monthly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 10.65%. The ex-dividend date of this dividend is Tuesday, January 30th. Prospect Capital’s dividend payout ratio is presently 141.18%.

In other Prospect Capital news, COO M Grier Eliasek purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were acquired at an average price of $7.19 per share, for a total transaction of $71,900.00. Following the completion of the purchase, the chief operating officer now owns 1,202,196 shares in the company, valued at approximately $8,643,789.24. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John F. Barry purchased 170,460 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was acquired at an average price of $6.86 per share, for a total transaction of $1,169,355.60. Following the purchase, the chief executive officer now owns 27,031,950 shares of the company’s stock, valued at approximately $185,439,177. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 4,604,521 shares of company stock worth $31,784,051. 7.10% of the stock is currently owned by insiders.

Several large investors have recently added to or reduced their stakes in the stock. Atria Investments LLC lifted its stake in shares of Prospect Capital by 64.3% in the fourth quarter. Atria Investments LLC now owns 32,832 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 12,843 shares in the last quarter. GSA Capital Partners LLP lifted its stake in shares of Prospect Capital by 277.0% in the third quarter. GSA Capital Partners LLP now owns 149,438 shares of the financial services provider’s stock worth $1,004,000 after acquiring an additional 109,803 shares in the last quarter. Archford Capital Strategies LLC lifted its stake in shares of Prospect Capital by 16.3% in the third quarter. Archford Capital Strategies LLC now owns 68,399 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 9,569 shares in the last quarter. California Public Employees Retirement System lifted its stake in shares of Prospect Capital by 5.4% in the third quarter. California Public Employees Retirement System now owns 808,100 shares of the financial services provider’s stock worth $5,430,000 after acquiring an additional 41,100 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Prospect Capital by 86.9% in the third quarter. Janney Montgomery Scott LLC now owns 87,689 shares of the financial services provider’s stock worth $589,000 after acquiring an additional 40,765 shares in the last quarter. Institutional investors and hedge funds own 15.60% of the company’s stock.

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Prospect Capital Company Profile

Prospect Capital Corporation is a financial services company. The Company primarily lends to and invests in middle market privately held companies. The Company is a closed-end investment company. Its investment objective is to generate both current income and long-term capital appreciation through debt and equity investments.

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