Prospect Capital (NASDAQ:PSEC) Downgraded by StockNews.com

StockNews.com lowered shares of Prospect Capital (NASDAQ:PSECFree Report) from a hold rating to a sell rating in a research report report published on Friday morning.

Separately, Wells Fargo & Company lowered their price objective on shares of Prospect Capital from $5.50 to $5.00 and set an underweight rating on the stock in a research report on Thursday, May 16th.

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Prospect Capital Price Performance

Shares of NASDAQ:PSEC opened at $5.62 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.72 and a quick ratio of 0.72. Prospect Capital has a 12 month low of $5.03 and a 12 month high of $6.69. The firm has a market capitalization of $2.35 billion, a P/E ratio of 16.53 and a beta of 1.00. The company’s fifty day moving average price is $5.46 and its 200 day moving average price is $5.69.

Prospect Capital (NASDAQ:PSECGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Prospect Capital had a return on equity of 13.32% and a net margin of 25.13%. The firm had revenue of $202.22 million for the quarter, compared to the consensus estimate of $214.70 million.

Prospect Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.06 per share. This represents a $0.72 annualized dividend and a dividend yield of 12.81%. The ex-dividend date of this dividend is Wednesday, August 28th. Prospect Capital’s dividend payout ratio (DPR) is presently 211.76%.

Insider Activity at Prospect Capital

In other news, CFO Dask Kristin Lea Van bought 5,000 shares of the stock in a transaction dated Monday, March 11th. The shares were acquired at an average price of $5.44 per share, with a total value of $27,200.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $54,400. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.69% of the stock is currently owned by insiders.

Institutional Trading of Prospect Capital

Institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in Prospect Capital by 11.7% in the first quarter. Van ECK Associates Corp now owns 6,880,161 shares of the financial services provider’s stock valued at $37,978,000 after acquiring an additional 719,010 shares during the period. LSV Asset Management boosted its holdings in Prospect Capital by 17.2% during the fourth quarter. LSV Asset Management now owns 2,035,654 shares of the financial services provider’s stock worth $12,194,000 after buying an additional 298,400 shares in the last quarter. XML Financial LLC grew its position in Prospect Capital by 29.1% during the first quarter. XML Financial LLC now owns 1,712,938 shares of the financial services provider’s stock worth $9,455,000 after buying an additional 386,266 shares during the period. Advisors Asset Management Inc. increased its holdings in Prospect Capital by 7.0% in the third quarter. Advisors Asset Management Inc. now owns 614,524 shares of the financial services provider’s stock valued at $3,718,000 after buying an additional 40,375 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC lifted its position in shares of Prospect Capital by 1.3% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 567,771 shares of the financial services provider’s stock valued at $3,435,000 after acquiring an additional 7,431 shares during the period. 9.06% of the stock is currently owned by hedge funds and other institutional investors.

About Prospect Capital

(Get Free Report)

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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