Brokerages Set Prospect Capital Co. (NASDAQ:PSEC) Target Price at $5.00

Shares of Prospect Capital Co. (NASDAQ:PSEC) have been given an average rating of “Sell” by the six ratings firms that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $5.00.

A number of brokerages have issued reports on PSEC. TheStreet upgraded shares of Prospect Capital from a “f” rating to a “b-” rating in a research report on Friday, July 26th. Zacks Investment Research upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 10th. National Securities restated a “sell” rating and set a $4.00 target price on shares of Prospect Capital in a research report on Monday, May 13th. BidaskClub upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. Finally, ValuEngine cut shares of Prospect Capital from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.

PSEC traded down $0.02 during midday trading on Friday, reaching $6.41. 18,228 shares of the company’s stock were exchanged, compared to its average volume of 1,246,005. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.68. The firm has a market cap of $2.36 billion, a PE ratio of 8.13 and a beta of 0.73. The company’s 50-day moving average price is $6.60. Prospect Capital has a 1-year low of $5.70 and a 1-year high of $7.60.

In other news, CEO John F. Barry acquired 63,496 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was acquired at an average price of $6.29 per share, with a total value of $399,389.84. Following the completion of the transaction, the chief executive officer now directly owns 38,364,480 shares in the company, valued at approximately $241,312,579.20. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John F. Barry acquired 137,839 shares of the business’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 of the company’s stock, valued at $248,646,735.52. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 610,246 shares of company stock valued at $3,882,141. 10.20% of the stock is currently owned by company insiders.

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

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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