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

Prospect Capital Co. (NASDAQ:PSEC) has received an average rating of “Sell” from the six ratings firms that are covering the firm, 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 1 year target price among brokerages that have covered the stock in the last year is $5.00.

PSEC has been the topic of a number of recent analyst reports. National Securities reissued a “sell” rating and issued a $4.00 price target on shares of Prospect Capital in a report on Monday, May 13th. Zacks Investment Research raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a 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. TheStreet raised shares of Prospect Capital from a “f” rating to a “b-” rating in a research report on Friday, July 26th. Finally, BidaskClub raised shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th.

In related news, insider John F. Barry bought 137,839 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was purchased at an average cost of $6.34 per share, with a total value of $873,899.26. Following the transaction, the insider now owns 39,218,728 shares in the company, valued at approximately $248,646,735.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO John F. Barry bought 63,496 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was bought at an average cost of $6.29 per share, with a total value of $399,389.84. Following the completion of the transaction, the chief executive officer now owns 38,364,480 shares in the company, valued at approximately $241,312,579.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 610,246 shares of company stock valued at $3,882,141. Corporate insiders own 10.20% of the company’s stock.

Several large investors have recently bought and sold shares of the company. LSV Asset Management lifted its position in shares of Prospect Capital by 2.6% in the 2nd quarter. LSV Asset Management now owns 5,847,808 shares of the financial services provider’s stock worth $38,186,000 after purchasing an additional 147,208 shares during the period. Bank of Montreal Can lifted its position in shares of Prospect Capital by 64.1% in the 2nd quarter. Bank of Montreal Can now owns 2,894,500 shares of the financial services provider’s stock worth $18,901,000 after purchasing an additional 1,131,000 shares during the period. Van ECK Associates Corp lifted its position in shares of Prospect Capital by 5.1% in the 2nd quarter. Van ECK Associates Corp now owns 2,094,710 shares of the financial services provider’s stock worth $13,678,000 after purchasing an additional 101,436 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of Prospect Capital in the 2nd quarter worth about $6,151,000. Finally, Mckinley Capital Management LLC Delaware lifted its position in shares of Prospect Capital by 1.7% in the 1st quarter. Mckinley Capital Management LLC Delaware now owns 842,248 shares of the financial services provider’s stock worth $5,491,000 after purchasing an additional 14,038 shares during the period. 12.21% of the stock is owned by hedge funds and other institutional investors.

Prospect Capital stock traded up $0.14 during trading hours on Friday, reaching $6.53. The stock had a trading volume of 1,272,000 shares, compared to its average volume of 1,298,641. The stock has a market cap of $2.36 billion, a PE ratio of 8.27 and a beta of 0.73. Prospect Capital has a 52 week low of $5.70 and a 52 week high of $7.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.59 and a quick ratio of 0.59. The company has a fifty day simple moving average of $6.60 and a 200-day simple moving average of $6.62.

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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