Prospect Capital (NASDAQ:PSEC) PT fell to $4.50 at Wells Fargo & Company

Prospect Capital (NASDAQ:PSEC – Get a Free Report) had its price target cut by investment analysts at Wells Fargo & Company from $5.00 to $4.50 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company’s price target suggests a potential downside of 13.96% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Prospect Capital from a “sell” rating to a “hold” rating in a research report on Thursday, June 27th.

Read the latest stock analysis on Prospect Capital

Prospective capital stock performance

NASDAQ PSEC opened at $5.23 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72, and a debt-to-equity ratio of 0.66. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 15.38 and a beta of 1.01. The company’s 50-day simple moving average is $5.31 and its 200-day simple moving average is $5.44. Prospect Capital has a 1 year low of $4.69 and a 1 year high of $6.30.

Prospect Capital (NASDAQ:PSEC – Get Free Report ) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.07. The business had revenue of $212.26 million for the quarter. Prospect Capital had a net margin of 25.13% and a return on equity of 13.32%. In the same quarter last year, the business posted EPS of $0.23.

Insider Buying and Selling at Prospect Capital

In other Prospect Capital news, CFO Dask Kristin Lea Van purchased 3,330 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was bought at an average price of $22.50 per share, for a total transaction of $74,925.00. Following the completion of the acquisition, the chief financial officer now owns 4,539 shares in the company, valued at $102,127.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. Company insiders own 26.69% of the company’s shares.

Hedge funds influence potential capital

A number of hedge funds have recently modified their holdings of the business. OLD National Bancorp IN bought a new position in Prospect Capital in the second quarter worth $137,000. Quadrature Capital Ltd bought a new position in Prospect Capital in the fourth quarter valued at $888,000. Kingsview Wealth Management LLC bought a new stake in Prospect Capital in the first quarter valued at $91,000. Envestnet Portfolio Solutions Inc. bought a new stake in Prospect Capital in the first quarter valued at $94,000. Finally, BI Asset Management Fondsmaeglerselskab AS raised its stake in Prospect Capital by 59.7% in the first quarter. BI Asset Management Fondsmaeglerselskab AS now owns 394,365 shares of the financial services provider’s stock worth $2,177,000 after purchasing an additional 147,460 shares in the last quarter. Institutional investors and hedge funds own 9.06% of the company’s shares.

About Prospect Capital

(Get a free report)

Prospect Capital Corporation is a business development company. It specializes in middle market, mature, mezzanine, later stage, emerging growth, leveraged buyouts, refinancing, acquisitions, recapitalizations, turnarounds, growth capital, development, capital expenditures and subordinated debt tranches of debt obligations secured, cash flow term loans, market place loans and bridge transactions.

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