Prospect Capital (NASDAQ:PSEC) Lowered to F at TheStreet

TheStreet downgraded shares of Prospect Capital (NASDAQ:PSEC) from a b- rating to a f rating in a research report sent to investors on Thursday morning, TheStreetRatingsTable reports.

Other analysts also recently issued reports about the stock. BidaskClub raised shares of Zogenix from a sell rating to a hold rating in a research report on Thursday, May 9th. ValuEngine downgraded shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. National Securities reaffirmed a sell rating and issued a $4.00 target price on shares of Prospect Capital in a research report on Monday, May 13th. Finally, Zacks Investment Research downgraded shares of ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Prospect Capital currently has a consensus rating of Hold and an average price target of $6.00.

NASDAQ:PSEC opened at $6.67 on Thursday. The stock has a 50-day simple moving average of $6.52. The stock has a market cap of $2.45 billion, a P/E ratio of 8.44 and a beta of 0.72. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. Prospect Capital has a 1-year low of $5.70 and a 1-year high of $7.60.

Prospect Capital (NASDAQ:PSEC) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.21 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.21. The firm had revenue of $171.10 million for the quarter, compared to the consensus estimate of $173.48 million. Prospect Capital had a net margin of 30.82% and a return on equity of 9.58%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.19 EPS. As a group, analysts expect that Prospect Capital will post 0.86 EPS for the current fiscal year.

The company also recently declared a monthly dividend, which was paid on Thursday, July 18th. Investors of record on Friday, June 28th were paid a $0.06 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 10.79%. The ex-dividend date of this dividend was Thursday, June 27th. Prospect Capital’s payout ratio is 91.14%.

In other news, insider John F. Barry purchased 137,839 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were bought at an average price of $6.34 per share, for a total transaction of $873,899.26. Following the purchase, the insider now directly owns 39,218,728 shares in the company, valued at approximately $248,646,735.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John F. Barry purchased 63,496 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of $6.29 per share, for a total transaction of $399,389.84. Following the purchase, the chief executive officer now owns 38,364,480 shares in the company, valued at $241,312,579.20. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 610,246 shares of company stock worth $3,882,141. 10.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in PSEC. Flagship Harbor Advisors LLC boosted its stake in Prospect Capital by 66.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 5,752 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 2,291 shares in the last quarter. HCR Wealth Advisors bought a new position in Prospect Capital during the 1st quarter valued at about $41,000. Nikulski Financial Inc. bought a new position in shares of Prospect Capital in the 1st quarter worth approximately $49,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Prospect Capital in the 1st quarter worth approximately $63,000. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of Prospect Capital in the 1st quarter worth approximately $67,000. Institutional investors own 12.19% of the company’s stock.

Prospect Capital Company Profile

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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