BidaskClub upgraded shares of Prospect Capital (NASDAQ:PSEC) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
A number of other analysts have also issued reports on the stock. ValuEngine lowered shares of Prospect Capital from a hold rating to a sell rating in a research note on Friday, August 3rd. Zacks Investment Research lowered shares of Prospect Capital from a buy rating to a hold rating in a research note on Friday, July 20th. Finally, National Securities reissued a sell rating and set a $4.00 target price on shares of Prospect Capital in a research note on Monday, May 14th. One equities research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $6.17.
Shares of PSEC opened at $6.96 on Friday. The firm has a market cap of $2.51 billion, a PE ratio of 8.19 and a beta of 0.51. Prospect Capital has a 12-month low of $5.51 and a 12-month high of $7.37. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.71.
Several institutional investors and hedge funds have recently modified their holdings of PSEC. Stephens Inc. AR purchased a new stake in shares of Prospect Capital during the second quarter valued at $150,000. Envestnet Asset Management Inc. lifted its stake in Prospect Capital by 136.5% in the first quarter. Envestnet Asset Management Inc. now owns 28,737 shares of the financial services provider’s stock worth $181,000 after acquiring an additional 16,585 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Prospect Capital in the first quarter worth about $185,000. Creative Financial Designs Inc. ADV lifted its stake in Prospect Capital by 265.4% in the second quarter. Creative Financial Designs Inc. ADV now owns 28,902 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 20,992 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in Prospect Capital in the second quarter worth about $200,000. 12.59% of the stock is owned by hedge funds and other institutional investors.
About Prospect Capital
Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine finance, later stage, emerging growth, buyouts, recapitalizations, turnaround, growth capital, development, subordinated debt tranches of collateralized loan obligations, cash flow term loans, and bridge transactions.
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